- Dogecoin whales accumulated 750 million DOGE tokens as its price decreased.
- DOGE price is trading at $0.2605 with a 2.35% dip.
Dogecoin is suffering market dip as the broader crypto market struggles to regain its previous levels. While Bitcoin is trading above $98,000, Ether briefly tested the $2,800 price level and went back to $2,781. Thus, the overall crypto market capitalization didn’t record any surge, standing below the $3.3 trillion mark.
Whales seized the opportunity during the recent dip, buying 750 million #Dogecoin $DOGE! This is a strong sign of confidence in the market! pic.twitter.com/LyjIuZCF15
— Ali (@ali_charts) February 6, 2025
Based on popular market analyst Ali Martinez recent post, Dogecoin whales leveraged the current market dip. And, they bought a whopping 750 million DOGE tokens at the current price level. Whales that hold 10,000,000 to 100,000,000 Dogecoins made this purchase combinedly. The increase in DOGE price and whales accumulation is a clear indication of how much Dogecoin holders believe in the token’s upsurge in the near future.
Can DOGE Reclaim $0.4 Price Level?
Dogecoin is trading at around $0.26 at press time with more than 2% dip in the last 24 hours. The memecoin went to as low as $0.2544 earlier today but then got back up to the current $0.26 price level. Its market cap has also decreased by 2.31% and is hovering above the $38.68 billion mark.
The whale accumulation of 750 million DOGE tokens is a positive sign of upcoming bullish price momentum. On the other hand, the 24-hour trading volume dropped by 40%, which indicates otherwise.
Nonetheless, the impact of global economic turmoil started with Trump’s unconventional policy decisions hasn’t yet cleared the crypto market. But, the community remains bullish anticipating a larger bull run this year, including Bitcoin reaching new ATHs.
Being the top memecoin by market cap, Dogecoin will follow the suit of Bitcoin and Ether. In addition, the whale accumulation of dogecoin will further strengthen the bullish trajectory once DOGE begins an uptrend in the next few weeks.
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