Dogecoin Whales Go on a Buying Spree—Is This the Calm Before the Pump?

Big-money players are loading up on DOGE—again. On-chain data shows a surge in whale transactions, with single purchases crossing the $10M mark. Meme coin or not, someone’s betting serious cash on the Shiba Inu-themed asset.

What’s driving the frenzy? Speculation swirls around Elon Musk’s X (formerly Twitter) potentially integrating DOGE payments—or maybe whales just enjoy watching retail traders FOMO in after their pumps. Either way, the ‘people’s crypto’ is looking more like the playground of crypto’s 1%.

Pro tip: When whales feed, the little fish usually end up as chum. But hey, at least Dogecoin’s inflation rate is only 5B new tokens per year. Totally sustainable, right?

$0.232454 (DOGE) has resurfaced on the radar of large investors. On-chain data reveals that big players have acquired over 600 million DOGE in the last 48 hours. This accumulation coincides with Bitcoin$104,599‘s recent rally, surpassing the $100,000 threshold and momentarily reaching $106,000, marking a new peak since January. Dogecoin has capitalized on this market momentum, experiencing an approximate 35% value increase over the past week.

ContentsWhales Acquire Over 600 Million DOGE Coins in 48 HoursCurrent Dogecoin price and Technical Analysis

Whales Acquire Over 600 Million DOGE Coins in 48 Hours

The resurgence in the cryptocurrency market has sparked significant interest from major investors in Dogecoin. According to analyst Ali Martinez, whales have purchased over 600 million DOGE since Friday. At current prices, this amount equates to a value of over $140 million.

This wave of purchases parallels Bitcoin’s renewed vigor in the bull market. As Bitcoin’s price surged past $104,000, dogecoin extended its daily gains to $0.259. This rise signals strong momentum forming within a short period.

Current Dogecoin Price and Technical Analysis

Dogecoin’s price increased by 2.26% over 24 hours, reaching $0.2334. Following a three-day upward trend, occasional drops erased previous losses. This weekly performance positioned Dogecoin as the second-highest gainer after ethereum (ETH)$2,506.

Regarding open interest, the collateral amount in Dogecoin futures increased by 9.84% within 24 hours, reaching $2.85 billion. According to CoinGlass data, this level denotes an unprecedented rise since mid-February.

Currently, the Doge price is encountering resistance at $0.259. The daily 200-day simple moving average (SMA 200) near $0.265 presents a critical barrier. Buyers are on standby to surpass this hurdle. In case of potential pullbacks, support is near the daily 50-day simple moving average (SMA 50). If momentum slows, Dogecoin may trade sideways between SMA 50 and SMA 200 for some time.

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