Dogecoin News Today: Dogecoin Whales Buy $200M in 24 Hours, Push ETF Approval Odds to 74%

Large-scale investors, often referred to as "whales," have significantly increased their Dogecoin holdings, acquiring over 1 billion DOGE—valued at approximately $200 million—within a 24-hour period, as reported by crypto analyst Ali Martinez on X [6]. This sharp accumulation has intensified on-chain activity and raised speculation about the potential for a bullish reversal in the market. Santiment data indicates that whale wallets holding over one billion DOGE have seen a notable uptick in their holdings, signaling confidence in the coin’s future trajectory [1].

The strategic purchase has drawn attention from both the retail and institutional investor communities. Analysts are closely watching whether this whale activity will lead to a retesting of key resistance levels, potentially pushing the price toward $0.25–$0.28, provided broader market conditions remain stable [2]. The timing of the acquisition—occurring during a price dip—suggests that whales may be positioning themselves ahead of anticipated regulatory developments, including the potential approval of a Dogecoin ETF [6]. Prediction markets currently give the asset a 74% chance of receiving such an approval before the end of 2025.

With over 72.64 billion DOGE—nearly 50% of the circulating supply—now controlled by whale wallets, concerns about market liquidity have emerged. A reduced supply in the open market could support a price increase if demand remains steady or grows [6]. However, some analysts caution that whale accumulation does not guarantee a sustained price rally. For example, X user Astekz predicts a short-term 20% price jump followed by a sharp decline, emphasizing the uncertainty that remains despite increased buying pressure [6].

Dogecoin’s recent price action has been mixed. On August 7, the coin rose by 2.79% to $0.2038 within a 24-hour period [8], but earlier in the month, it had dropped by 5% amid a surge in trading volume driven by broader risk-off sentiment [9]. The price appears to be consolidating near key support levels, with the outcome of ongoing whale accumulation expected to play a decisive role in whether a sustained bullish move materializes.

While some analysts, like Marcus Corvinus on X, predict a move toward $0.50 in the coming months [6], others remain cautious. The interplay of whale activity, regulatory developments, and macroeconomic factors will continue to shape Dogecoin’s short- to medium-term path. Investors are advised to monitor on-chain activity and broader market sentiment as the asset navigates a volatile trading environment.

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Source: [1] Dogecoin Whales Accumulate Over 1B DOGE, Fueling ... (https://www.cointribune.com/en/dogecoin-whales-accumulate-over-1b-doge-fueling-speculation-of-a-reversal/)

[2] Dogecoin Whale Price: How Strategic Accumulation Could ... (https://www.okx.com/learn/dogecoin-whale-price-strategic-accumulation)

[6] Dogecoin Whales Spend $200M in 24 Hours, Boost ETF ... (https://www.analyticsinsight.net/news/dogecoin-news-today-dogecoin-whales-spend-200m-in-24-hours-boost-etf-approval-odds-to-74)

[8] Dogecoin Rises 2% as Analysts Highlight 'Golden Reload' ... (https://pintu.co.id/en/news/190083-dogecoin-price-update-today-7august2025/amp)

[9] Dogecoin Drops 5% as Trading Volume Soars (https://thecurrencyanalytics.com/altcoins/dogecoin-drops-5-as-trading-volume-soars-can-it-hold-key-support-189326)