- Whales bought 310 million DOGE despite a short-term price decline, suggesting strategic accumulation behavior.
- Dogecoin trading volume topped $2B as retail sentiment weakened but large holders increased their stake.
- Accumulation patterns hint at potential DOGE price recovery, with whales positioning ahead of possible reversal.
Dogecoin (DOGE) has witnessed new whale action of 310 million tokens in a 24 hours period with dogecoin underphasing in price. Based on market data, the number of large-holders is on the rise despite a drop in trading prices of DOGE proving that the tide could be turning in the consecutive sessions.
Whale Activity Intensifies Amid Dogecoin Price Decline
Recent on-chain data released by @ali_charts reveals that the accumulation of Dogecoin by whales has increased significantly in the last day. In the previous week, there was a drop in its price that decreased by 5.11 percent, but still, large holders bought more DOGE 310 million units.
Such inconsistency between price movement and the accumulation statistics indicates strategic purchasing activity. Whales are buying DOGE at low prices and this means they might expect it to recover in the medium-term. This trend is a good indicator that change in direction in the market structure is about to come.
Historical precedent in DOGE trading supports this observation. Prior accumulation periods by large holders typically preceded strong speculative rallies or trend reversals.
Market Behavior Suggests Weak Retail Sentiment, Smart Money Positioning
While whale wallets expand, retail sentiment appears increasingly cautious. The current short-term downtrend reflects reduced buying pressure among smaller participants.
DOGE’s price, at $0.2224 as of writing, has posted a 2.43% gain over the past 24 hours but is still down 4.42% week-on-week. This contrast between retail exits and institutional entries is a common pattern seen near price bottoms.
Traders observing volume data noted a $2.01 billion turnover, showing that liquidity remains robust even amid correction. Analysts believe sustained volume with strategic accumulation could stabilize the price before a breakout.
Technical Structure and Accumulation Signal Possible Rebound
Chart visuals suggest that while price trends lower, accumulation zones are forming. The shaded area on the graph reflects whale wallet growth.
This silent accumulation phase, if sustained, often leads to consolidation before a breakout. As long as whales continue to accumulate, sentiment could shift quickly.
Dogecoin’s volatility presents risks, but recent on-chain signals hint at renewed confidence among major players. Observers are now closely watching for any change in price trajectory.
