Dogecoin News Today: Dogecoin Whales Buy 310M Tokens Amid 75% ETF Approval Hype

Large holders of Dogecoin (DOGE) have rapidly accumulated 310 million tokens within a 24-hour period, signaling a potential shift in market sentiment. This significant buy-up occurred as the probability of a Dogecoin ETF approval rose to 75%, according to an anonymous market analyst on Polymarket. The accumulated amount is valued at over $73 million, with most of the purchases made by wallets holding between 100 million and over 1 billion DOGE [1]. Analysts Ali Martinez and Javon Marks noted that such behavior is typical during historical bullish cycles, reinforcing the idea that the market may be entering a new phase of growth [2].

The accumulation coincided with a price dip and a stabilization of DOGE around $0.22, a level now serving as key support. On-chain data from Santiment and CoinGlass show a sharp increase in whale activity, with large holders significantly boosting their positions during the decline [3]. The price move lifted DOGE above crucial technical levels, pushing it to $0.223, indicating that the market is beginning to absorb recent selling pressure. Experts have observed wedge patterns in historical data and suggest that similar formations have previously led to substantial price rallies [4].

Technical indicators also support the bullish outlook. The 50-day moving average has crossed above the 200-day average on the daily chart, forming a Golden Cross — a commonly recognized sign of an upward trend [5]. The RSI is currently at 51.89, a neutral level, suggesting that DOGE is not overbought and has room for further gains. Historical comparisons point to a potential 260% rally similar to what occurred in Q4 2024 [6].

Volume data from CoinGlass highlights genuine buying interest, as the 61.997M SMA volume metric has shown a sharp increase. This suggests the recent price movement is driven by strong accumulation rather than short-term speculative pumping. Additionally, liquidation data indicates that most long positions remain intact, with sell pressure being absorbed without major losses in overall long interest — a pattern often seen before the start of a bullish cycle [7].

The growing speculation around a potential DOGE ETF is also boosting sentiment. With a 75% estimated approval chance, the market is responding as it did with prior Bitcoin and Ethereum ETF announcements, creating a self-reinforcing loop of optimism and buying [8]. Traders are now watching for a breakout from the current consolidation phase to confirm the continuation of the upward trend. While this analysis is based solely on the provided data, it underscores the importance of whale activity and technical indicators in shaping the short-to-medium-term trajectory of Dogecoin.

Source:

[1] Dogecoin Price Set For Next Leg Up Amid 310M Whale ... (https://coingape.com/dogecoin-price-set-for-next-leg-up-amid-310m-whale-buying-spree/)

[2] Dogecoin News: Whales Buy 310M DOGE Amid ... (https://themarketperiodical.com/2025/07/31/dogecoin-news-whales-buy-310m-doge-amid-the-breakout-hype/)

[3] Whales Keep Buying the Dips: 310M DOGE Snapped Up ... (https://cryptoadventure.com/whales-keep-buying-the-dips-310m-doge-snapped-up-in-a-day)

[4] Story of the Day Archives (https://www.coinspeaker.com/news/story-of-the-day/)

[5] Whales Scoop 310M $DOGE in 24H: Is a Breakout Brewing? (https://coincu.com/analysis/whales-scoop-310m-doge-in-24h-is-a-breakout-brewing/)

[6] Dogecoin News Today: Cold Wallet, Shiba Inu, PENGU ... (https://www.ainvest.com/news/dogecoin-news-today-cold-wallet-shiba-inu-pengu-dogecoin-drive-2025-crypto-gains-2507/)