Dogecoin News Today: Dogecoin Whales Accumulate $500M in Seven Days Amid ETF Hopes

Over the past week, significant whale activity in Dogecoin (DOGE) has sparked renewed speculation about a potential price rally. On-chain data shows that large investors, those holding between 100 million and one billion DOGE, have acquired an estimated 2 billion tokens in just seven days, valued at nearly $500 million. These purchases have pushed their total holdings to 27.6 billion tokens, representing approximately 18.3% of the circulating supply [1]. The surge in accumulation has led some market observers to believe that whales might possess insider knowledge about an upcoming development that could drive further gains.

The price of DOGE has already shown signs of upward momentum, rising by 17% in the last week to reach $0.24. Analysts such as Altcoin Sherpa and KALEO have expressed optimism about the short-term outlook. Altcoin Sherpa noted that the current environment is “finally pretty good” for DOGE to make a significant move, particularly if Bitcoin (BTC) continues to hit new all-time highs. BTC recently reached a record of over $124,000, fueling speculation that DOGE may follow a similar trajectory [2]. KALEO added to the bullish sentiment, suggesting that the DOGE/BTC chart resembles a setup similar to the one seen in early 2021, potentially signaling a large-scale move ahead.

Furthermore, DOGE’s Relative Strength Index (RSI) has cooled from overbought levels (80) to 54, suggesting that the coin is no longer in a dangerous overbought territory and could be poised for further gains. Typically, an RSI below 30 is considered a bullish signal, while a reading above 70 suggests overbought conditions and potential pullback. The current reading places DOGE in a neutral to positive range [3].

Some market participants are also speculating that the whales are waiting for the potential approval of a spot DOGE ETF in the United States. While the odds of approval before the end of 2025 stand at 61% according to Polymarket—down from 79% on August 10—many believe that such a regulatory development could significantly boost demand and liquidity for the meme coin [1].

Despite the positive developments, analysts caution that the market should remain cautious and monitor on-chain activity for signs of sustained momentum. While bullish forecasts abound, the actual performance will depend on real-world catalysts and broader market conditions [1-10].

Source:

[1] Dogecoin (DOGE) Whales Go Crazy: Further Price Rally Incoming? (https://coinmarketcap.com/community/articles/689db374cd503f0cdaa2266d/)

[2] How high do we think BLSH going? (https://www.facebook.com/groups/2028862550588932/posts/3507264549415384/)

[3] Bitcoinsensus - X (https://x.com/bitcoinsensus?lang=en)

[4] Automated Mining? Seize the Golden Opportunity of Dogecoin Cloud Mining in 2025! (https://cryptonews.com/press-releases/)