Dogecoin News Today: Dogecoin Whales Buy 2 Billion Tokens Amid Bullish On-Chain Signs

Large investors, or "whales," in Dogecoin have accumulated 2 billion DOGE tokens over the past week, signaling a potential bullish shift for the memecoin. This accumulation, based on on-chain analytics from platforms like Santiment, indicates significant buying pressure into large wallets. The total value of these purchases is estimated at $448 million, assuming a token price of around $0.22 [1]. This activity suggests that major holders are positioning themselves for an upward move in the price of DOGE.

The buying spree has been accompanied by increased transaction activity, particularly in transfers involving more than $1 million in DOGE. Analysts, including Ali Martinez, have highlighted this as a sign of heightened activity among large investors, who are moving larger sums of tokens and potentially preparing for strategic price movements [1]. The trend in the Whale Transaction Count has shown a sharp spike, reinforcing the view that significant players are active in the market [1].

From a technical perspective, Dogecoin has formed a Golden Cross pattern, where the 50-day exponential moving average (EMA) crossed above the 200-day EMA, historically seen as a bullish signal. This has been supported by a positive MACD and RSI levels that indicate strong short-term momentum. While the MACD histogram remains relatively small, analysts suggest the rally is still in its early stages and will require continued accumulation to maintain upward pressure [1]. The RSI remains in a moderately bullish range, suggesting that DOGE may be entering a more optimistic phase [1].

Price action has also reflected this momentum, with Dogecoin seeing an 8% rise following a single-day accumulation of 230 million tokens [1]. The surge coincided with a significant increase in market capitalization, which rose by $5.5 billion over the past week, reaching $36.38 billion [1]. However, the token has recently experienced an 8.65% decline in the 24 hours ending on August 10, 2025, raising concerns about short-term volatility [1]. Analysts remain cautious, noting that while the long-term trend appears positive, key support levels at $0.22 will need to hold to prevent a pullback [1].

The psychological impact of whale accumulation cannot be overlooked, particularly in a market as sentiment-driven as DOGE. Large-scale buying by major holders can signal confidence and reduce short-term selling pressure. If this trend continues and is supported by sustained on-chain activity, Dogecoin could see renewed upward momentum. However, any halt in whale accumulation or signs of large holders offloading their tokens could introduce downward risks [1].

Market observers are closely monitoring several factors, including further whale flows, exchange inflows and outflows, and Bitcoin’s performance, which often influences altcoin movements. With DOGE currently in a consolidation phase, the coming days will be critical in determining whether the bullish signal holds or if the market reverts to a more uncertain phase [1].

Source:

[1] https://www.newsbtc.com/news/dogecoin/dogecoin-bullish-whales-buy-2-billion-doge/