Large Dogecoin (DOGE) holders, commonly known as whales, have executed a significant accumulation strategy in recent days, scooping up over 2 billion DOGE tokens valued at approximately $500 million [1]. This buying spree has been concentrated among wallets holding between 100 million and 1 billion tokens each, indicating a strategic and coordinated effort by high-net-worth or institutional players to position themselves ahead of potential price movements [1]. The accumulation coincided with a breakout of a key resistance level at $0.241, pushing DOGE to a high of $0.246 and reigniting interest among both technical traders and memecoin enthusiasts [1].

This surge in whale activity is part of a broader trend of increased bullish momentum for DOGE. In the span of just a few days, the price of Dogecoin rose by 4.029%, with some reports highlighting that similar accumulation had already occurred earlier, with whales acquiring over 1 billion DOGE tokens worth $200 million between July 24 and July 26 [2]. During this period, a golden cross formed on the price chart as the 50-day exponential moving average (EMA50) crossed above the 200-day EMA (EMA200). This technical pattern is traditionally viewed as a potential sign of an uptrend and is often followed by a period of sustained price growth [2].

The golden cross marks a reversal from a five-month bearish trend characterized by a death cross, and it suggests that the overall momentum for DOGE is shifting toward a more favorable outlook [2]. If the price manages to stay above $0.241, the next key resistance target is $0.273, a level seen as a critical test of the current bullish momentum [2]. However, if the upward trend fails to consolidate, a pullback between $0.241 and $0.218 is considered a likely scenario, allowing the market to digest the recent gains before the next phase [2].

While the current price trajectory appears promising, it is essential to recognize the speculative nature of DOGE. The coin’s volatility is well-documented, and while the golden cross and whale accumulation offer strong signals, they do not guarantee long-term success. Analysts have speculated that DOGE could reach $1 by 2025, but such a forecast is based on the assumption that the current buying pressure and investor optimism will persist [3]. No specific mechanisms or guarantees are tied to this prediction, and the market will need to be monitored closely for any signs of a shift in sentiment.

The buying pressure from whale investors is not unique to DOGE. Similar patterns have been observed in other cryptocurrencies like XRP, where whales recently acquired $3.8 billion worth of tokens in four days [4]. However, DOGE remains the focal point of the recent accumulation wave, with its market reaction being swift and measurable. In just one 24-hour period, DOGE surged 11.2% to $0.24 following the acquisition of 1 billion DOGE tokens by whale investors [5]. This rapid price response has only added to the growing optimism among traders.

Source:

[1] https://www.ainvest.com/news/dogecoin-whales-accumulate-2-billion-doge-price-4-029-2508/

[2] https://www.newsbtc.com/dogecoin-2/whales-scoop-up-1b-doge-as-golden-cross-forms-confidence-build-up-for-the-next-moon-mission/

[3] https://www.interactivecrypto.com/dogecoins-200m-whale-surge-could-doge-hit-1-by-2025

[4] https://bitcoinist.com/xrp-whales-fuel-rally-maxi-doge-explodes/

[5] https://www.ainvest.com/news/dogecoin-news-today-dogecoin-price-surges-11-2-whales-buy-200m-golden-cross-forms-2508/