It’s worth noting that big-time Dogecoin investors, often referred to as “whales,” have been actively buying large amounts of DOGE. Recent data indicates they’ve added approximately 470 million Dogecoins to their investments. This significant purchase is taking place during a time when Dogecoin is experiencing a strong recovery in its key performance indicators. Analysts predict this could lead to a powerful upward trend for the cryptocurrency.
Dogecoin Whales Buy 470 Million DOGE
crypto expert Ali Martinez shared on X (previously known as Twitter) on January 11th that wealthy Dogecoin holders have resumed buying. Martinez disclosed the recent purchase of DOGE by these large-scale investors, emphasizing that they recently acquired more than 470 million tokens.
Over the past 48 hours, a significant amount of Dogecoin was bought, estimated to be around $155 million at today’s market rates. This kind of massive investment by a ‘whale’ (a term for large investors) could indicate growing interest in the cryptocurrency, possibly impacting market opinions and trends.
As a researcher, I recently came across an intriguing chart shared by Martinez that delves into Dogecoin’s intricacies. This particular chart zeroes in on the conduct of ‘whales,’ entities holding anywhere from 10 million to 100 million DOGE. The graphically emphasized section, shaded for clarity, represents the aggregated holdings of these wallets that contain millions of DOGE.
By late December 2024, the holdings of Dogecoin whales remained fairly consistent, but they started to rise noticeably from early January 2025. On analysis platform X, CEO, a respected crypto expert, pointed out this significant increase in accumulation, noting that whales have bought over a billion Dogecoins within the last seven days.
As a crypto investor, I’ve noticed that significant quantities of Dogecoin were bought between roughly $0.314 and $0.355 on Martinez’s chart. These prices indicate periods where Dogecoin exhibited considerable volatility and a slight dip, potentially offering a buying chance for investors like myself. Previously, Dogecoin had soared to unprecedented heights above $0.4 in the year 2024. However, a sharp downturn brought its price back near the $0.3 threshold.
It’s worth noting that a large number of Dogecoins, approximately 470 million, have been bought by whales. This purchase comes at a time when the cryptocurrency is showing signs of a robust bullish recovery in key performance indicators. As per crypto analyst Javon Marks, Dogecoin is shaping up into a new Descending Wedge pattern. Furthermore, a market expert from X, known as ‘Rose Premium Signals,’ has shared insights suggesting that Dogecoin’s overall charts are pointing towards a robust bullish structure. The digital currency seems to be gathering momentum near crucial support zones and is in line with long-term Fibonacci levels.
DOGE Forms New Descending Wedge Pattern
Previously discussed, Dogecoin appears to be developing a fresh Descending Wedge structure, suggesting a possible price surge as it breaks free from this pattern. In his recent post, Mark noted that the popular meme currency could continue with another strong bullish run once it successfully escapes this Descending Wedge formation.
A Descending Wedge, often called a Falling Wedge, is a technical chart pattern suggesting a possible change in direction (reversal or continuation) of prices. This pattern usually emerges amid a downward trend, and it concludes when there’s a break above the upper boundary line. In simpler terms, it’s a bullish signal that may indicate an upcoming price increase following a prolonged downtrend.
According to the analyst’s analysis, if Dogecoin manages to surpass the Descending Wedge pattern, it might reach a new all-time high (ATH) shortly, potentially resulting in an approximately 120% price increase. This significant growth spike could occur imminently, propelling Dogecoin from its current market value of $0.33 up to a projected bullish goal of $0.739.
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2025-01-12 03:40