Dogecoin Whales Accumulate 530M DOGE, Sparking Price Recovery Hopes

Dogecoin whales have been actively accumulating the cryptocurrency over the past 72 hours, with a significant increase in holdings. According to on-chain data, these large investors have acquired over 530 million Dogecoin (DOGE) during this period. This strategic buying at lower price levels suggests that institutional and high-net-worth investors are capitalizing on the recent decline in Dogecoin's price.

The accumulation trend by Dogecoin whales has sparked optimism among analysts, who see this activity as a potential precursor to a price recovery. Historically, similar accumulation phases have preceded short-term rebounds, as reduced market supply creates bullish pressure. While some traders remain cautious, expecting further retracement, whale buying reinforces price optimism.

If current demand holds, analysts suggest that Dogecoin price could push toward $0.30 in the coming weeks. However, technical indicators also suggest the potential for another pullback before a sustainable uptrend can be established. Some analysts anticipate a price correction before any major recovery, projecting a retrace to $0.125 as an accumulation zone. This retrace could provide a buying opportunity for market participants who accumulate near this level and benefit from a potential Dogecoin price rebound.

Moreover, the TD Sequential has flashed a buy signal for Dogecoin, suggesting that a price reversal could be on the horizon. This signal appeared on DOGE's daily chart after a sequence of nine consecutive downward candles, a formation that historically precedes upward movements. If this bullish signal holds, Dogecoin price could experience a sharp upward movement from its current levels. Additionally, a recent CoinGape analysis supported the potential Dogecoin price rally to $3, citing strong whale accumulation and market resilience.