Dogecoin Whales Go on 470 Million DOGE Buying Spree Amid Bullish Recovery In Major Metrics

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Surprisingly, Dogecoin whales are on a massive buying spree, as new reports show that these large-scale investors have added a whopping 470 million DOGE into their portfolios. This substantial purchase comes amid Dogecoin’s bullish recoveryin key metrics, as analysts project a significant push to the upside.  Dogecoin Whales Buy 470 Million DOGE

Popular crypto analyst Ali Martinez revealedon X (formerly Twitter) on January 11 that Dogecoin whales have begun accumulating again. Martinez announced the latest DOGE acquisition by these deep-pocketed investors, highlighting that Whales recently bought over 470 million tokens.  Related Reading Bitcoin Price Unravels 157-Day Fractal Similar To Last Cycle, Why A Surge To $169,000 Is Possible 1 day ago

This substantial DOGE purchase, which occurred in the last 48 hours, is valued at approximately 155 million based on current market prices. Such large-scale whale activityoften signals a renewed interest in the cryptocurrency, potentially influencing market sentiment and trends.

Martinez shared a chart presenting data related to Dogecoin, focusing on the behavior of whales holding assets spanning from 10 million to 100 million DOGE. The shaded area on the chart highlights the cumulative holdings of these wallets owning millions of DOGE.  Source: X

Around late December 2024, Dogecoin whale holdings were relatively stable but began increasing significantly in early January2025. CEO, a crypto analyst on X, commentedon this surging accumulation trend, highlighting that whales have purchased over 1 billion Dogecoin in the last seven days. 

Martinez’s chart also shows that large amounts of Dogecoin were purchased between $0.314 and $0.355. These prices highlight areas where Dogecoin experienced notable volatility and a slight pullback, presenting a buying opportunity for investors. Dogecoin previously surged to new highs above $0.4 in 2024. However, a steep correctionpushed its price back towards the $0.3 mark. 

Interestingly, the 470 million Dogecoin purchased by whales comes as the cryptocurrency experiences a steady bullish recovery in significant metrics. Crypto analyst Javon Marks disclosed that Dogecoin is forming a new Descending Wedge pattern. Additionally, a market expert on X, identified as ‘Rose Premium Signals,’ has revealedthat Dogecoin’s macro charts are signaling a strong bullish structure as it accumulates near key support zones and aligns with long-term Fibonacci levels. Source: X DOGE Forms New Descending Wedge Pattern

As mentioned earlier, Dogecoin is currently forming a new Descending Wedge pattern, signaling another potential price breakout. Marks statedin his X post that the popular meme coin is well positioned to continue another substantial bullish trend once it breaks out of this Descending Wedge pattern.  Related Reading Is Dogecoin’s 30% Decline A Chance To Buy On Discount? Here Is the Pertinent Level To Watch 1 day ago Source: X

A Descending Wedge, also known as a Falling Wedge, is a technical chart pattern that indicates the potential for a price reversal or continuation. It is a bullish pattern that typically occurs during a downtrend, with its completion marked by a breakout above the upper trendline. 

Marks predicts that if Dogecoin breaks above the Descending Wedge pattern, it could hit a new ATH soon, reflecting a potential 120% increase. The analyst has revealed that this massive price gaincould happen anytime soon, pushing Dogecoin from its current market price of $$0.33 to a new bullish target of $0.739. DOGE bulls push for new local highs | Source: DOGEUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com