Surprisingly, The Dogecoin whales are on a massive buying spreeas new reports show that these big investors have put 470 million DOGE into their portfolios. This big purchase comes in between Quick update on Dogecoin rate in key metrics, as analysts plan a major push to the upside.
Dogecoin whales buy 470 million DOGE
Popular crypto analyst Ali Martinez show up on X (formerly Twitter) on January 11 that Dogecoin whales have begun to gather again. Martinez announced the latest DOGE acquisition by these deep investors, revealing that Whales recently bought more than 470 million tokens.
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This large DOGE purchase, which took place in the last 48 hours, is valued at approximately 155 million based on current market prices. Such a thing large-scale whaling operations often indicating renewed interest in the digital currency, which can affect sentiment and market trends.
Martinez shared a chart showing data related to Dogecoin, focusing on the behavior of whales whose assets range from 10 million to 100 million DOGE. The shaded area on the chart shows the cumulative holdings of those wallets that hold millions of DOGE.
Around the end of December 2024, Dogecoin whale holdings were relatively stable but started increased significantly in early January 2025. CEO, crypto analyst on X, said on this rallying trend, indicating that whales have bought over 1 billion Dogecoin in the past seven days.
Martinez's chart also shows that large amounts of Dogecoin were bought between $0.314 and $0.355. These prices highlight areas where Dogecoin has experienced notable volatility and some pullbacks, indicating its buying opportunity for investors. Dogecoin rose to previous highs of $0.4 in 2024. However, its casual correction the price pushed back to 0.33 US dollars.
Interestingly, the 470 million Dogecoin bought by whales comes as the cryptocurrency is experiencing a sustained bullish recovery in an important metric. Crypto analyst Javon Marks revealed that Dogecoin is forming a new descending Wedge pattern. In addition, there is a market expert on X, identified as 'Rose Premium Signals,' on it show up that Dogecoin's macro charts indicate a strong bullish structure as it rallies near key support areas and aligns with long-term Fibonacci levels.
DOGE creates a new descent pattern
As mentioned earlier, Dogecoin is currently creating a new one Descending Wedge Patternindicating another possible price breakout. Signs said in his X post that the popular meme coin is well positioned to continue another big bullish move once it breaks out of this Descending Wedge pattern.
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Descent Envelope, also known as a A falling envelopeis a technical chart pattern that indicates the potential for a reversal or continuation. It is a bullish pattern that usually occurs during a downtrend, with completion marked by a breakout above the upper trend line.
Marks predicts that if Dogecoin breaks above the Descending Wedge pattern, it could hit a new ATH soon, indicating a potential upside of 120%. The analyst has indicated that this significant price increases This could happen anytime soon, pushing Dogecoin from its current market price of $0.33 to a new bullish target of $0.739.
Featured image created by Dall.E, chart from Tradingview.com
