Dogecoin News Today: Dogecoin Whales Add 130M DOGE Amid Volatility Holdings Rise 3.11% in July Rally

Dogecoin whales have been actively accumulating large quantities of DOGE amid recent price fluctuations, signaling sustained long-term confidence in the cryptocurrency. Over 24 hours, whale accounts added 130 million DOGE to their holdings, a surge that occurred during a period of market volatility. This accumulation coincided with the July price rally, during which whale holdings expanded from 49.26 billion to 50.79 billion DOGE, reflecting a strategic buildup by major investors. Despite a price correction that saw DOGE dip to $0.21 by July 28 from a peak of $0.287 on July 20, whale positions remained stable, with holdings remaining near 50.54 billion DOGE by July 29. The lack of significant sell-offs during this downturn underscores the holders’ commitment to maintaining their positions, suggesting they view the dips as temporary rather than indicative of a broader bearish trend.

On-chain data and exchange outflows further reinforce this narrative. Between July 18 and 22, multiple outflows exceeding $20 million were recorded as whales moved DOGE off exchanges, a pattern that continued through July 23 to 29, with some withdrawals surpassing $30 million. This behavior reduces the immediate supply available for trading, potentially mitigating downward pressure during price retracements. Prior to the mid-July rally, net inflows to exchanges were minimal, but they spiked between July 11 and 17, reaching $50–60 million. However, post-peak activity shifted decisively to outflows, highlighting a shift in whale strategy toward long-term holding rather than short-term speculation.

The divergence between price movements and whale activity is notable. While DOGE’s value fluctuated, large holders maintained their positions, indicating they are less influenced by short-term volatility and more focused on long-term appreciation. Analysts note that such behavior often correlates with reduced market volatility, as large-scale accumulation limits the circulating supply on exchanges and curtails potential sell pressure. The sustained stability of whale holdings, coupled with persistent outflows post-peak, suggests that institutional or high-net-worth investors perceive Dogecoin as a viable long-term asset, despite its speculative reputation.

The data aligns with broader patterns observed in cryptocurrency markets, where whale activity frequently serves as an early indicator of market sentiment. By analyzing wallet activity in the 10 million to 1 billion DOGE range, researchers have identified increased engagement from major holders during the July rally, particularly in the week leading up to the July 20 peak. This trend underscores the importance of monitoring on-chain metrics to gauge the confidence of key market participants. As Dogecoin navigates its next phase of development, the actions of these large holders will remain a critical factor in shaping its price trajectory and market dynamics.

[1] Source: [1] Dogecoin Whales May Be Accumulating Amid Price Swings, Indicating Potential Long-Term Confidence (https://en.coinotag.com/dogecoin-whales-may-be-accumulating-amid-price-swings-indicating-potential-long-term-confidence/)