Whales buy 1 billion in Dogecoin and bet on recovery
- Whales buy 1 billion DOGE in the dip
- Dogecoin is once again attracting the attention of major investors.
- DOGE Price Drops Below $0,20 After Pullback
On-chain data reveals significant movement among Dogecoin's largest holders. According to analyst Ali Martinez, whales—wallets holding over 1 billion DOGE—have added over $1 billion in Dogecoin in the last 24 hours.
The analysis was based on Santiment's Supply Distribution indicator, which tracks asset volume by portfolio group. Whales, with positions exceeding one billion DOGE, have the potential to directly impact the market due to the significant size of their holdings.
The chart shared by Martinez indicates that these large wallets had reduced their positions in late July, following selling pressure that drove the cryptocurrency's price down. However, the trend recently reversed with a sharp increase in distribution, suggesting further mass acquisitions.
"Whales have bought over a billion Dogecoins ($DOGE) in the last 24 hours!" Martinez highlighted in a post on X. The movement raises the hypothesis that these investors see the current prices as a strategic entry opportunity.
Whales bought over one billion Dogecoin $ DOGE in the last 24 hours! pic.twitter.com/qdGrIE6Gez
— Ali (@ali_charts) August 6, 2025
Even with the entry of major players, Dogecoin's price remained under pressure. The memecoin has fallen nearly 8% in the last seven days, currently trading below the $0,20 mark. The decline reflects the broader market's correction, also affecting other popular coins.
In addition to Dogecoin, the analyst also observed significant technical behavior in the memecoin Pepe (PEPE), which completed a Tom Demark (TD) sequential setup with nine red candlesticks. This pattern is often interpreted as a positive short-term reversal signal.
An increase in whale positions is often a relevant indicator for the market. Historically, such movements have preceded price recovery or consolidation phases in various cryptocurrencies. As a result, the recent behavior of DOGE whales is being monitored more closely by investors and analysts.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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