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Dogecoin Surges 6% in 30 Days as Whales Accumulate $18M

Coin WorldFriday, May 2, 2025 1:52 pm ET

1min read

Dogecoin (DOGE) has seen a 6% increase over the past 30 days, currently trading at $0.1800. This price movement is accompanied by significant on-chain activity, with whales aggressively accumulating DOGE. This accumulation follows a bullish breakout above key exponential moving averages (EMAs), suggesting a potential major move in the near future.

According to popular crypto analyst Ali Martinez, whales have purchased 100 million DOGE in just one week, amounting to an investment of $15 to $18 million. This substantial investment indicates rising confidence in a larger rally for DOGE. Whale accumulation is generally seen as a bullish signal, as these investors are often referred to as the 'smart money' whose behavior reflects the market outlook of institutional players.

DOGE is the leading meme coin with a market cap of $27 billion, accounting for nearly 50% of the entire meme coin market. This dominance positions DOGE similarly to how Bitcoin (BTC) is to all cryptocurrencies. The recent bullish signals and whale accumulation support a positive price prediction for DOGE.

The daily chart of DOGE shows a textbook double bottom at $0.1400, followed by a surge that broke above its 21-day EMA on strong volume. Since then, the price action has respected this key level, with momentum indicators flashing increasingly bullish signals. The Relative Strength Index (RSI) remains above the signal line, and the MACD histogram is gaining strength, both suggesting upward pressure is building.

DOGE is now poised to retest the $0.2200 level and challenge its 200-day EMA, a key technical line that often determines longer-term trend direction. A bullish crossover between the 21-day and 200-day EMA would confirm a powerful buy signal. The last time this happened was in October, and DOGE went on to rally 224% within just a couple of months.

With whale accumulation rising and broader sentiment improving, a run to $5 may sound ambitious, but in the volatile world of crypto, especially with growing DOGE adoption, anything is possible. As the market outlook improves, other promising crypto presales could outperform well-established tokens like DOGE.

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