News View Non-AMP

Time to Buy DOGE? Whales Buy 1 Billion Meme Coins

Published by
Chandan Gupta

Dogecoin (DOGE), the popular and world’s largest meme coin, appears more optimistic in this highly anticipated altcoin season. Experts and analysts believe this bull run will begin following the inauguration of Donald Trump’s government, which is scheduled for January 20, 2025.

Crypto Whales Buy 1 Billion DOGE

In this highly anticipated bull run, long-term holders, whales, and retailers appear to be strongly accumulating the DOGE meme coin, as a crypto expert on X (formerly Twitter) revealed. On January 7, 2024, the expert stressed that whales have added a significant 1 billion DOGE in the past seven days.

This substantial accumulation in such a short time frame can create more buying pressure and lead to a further upside rally, as observed in the DOGE price. According to CoinMarketCap data, during the same period of accumulation, the meme coin has witnessed a price gain of over 27%.

DOGE Price Momentum

At press time, DOGE is trading near $0.39 and has experienced a price gain of over 2.50% in the past 24 hours. However, during the same period, investors and traders have also increased their participation, resulting in a 12% rise in trading volume.

Besides DOGE, the market sentiment appears to be bullish, as major assets, including Bitcoin (BTC) and Ethereum (ETH), have shown a strong rally, which could help the meme coin continue its rally.

Bullish On-Chain Metrics

This bullish market sentiment across the crypto market has attracted intraday traders, as reported by the on-chain analytics firm Coinglass.

Traders’ Rising Interest

Currently, DOGE open interest (OI) has jumped by 40%, indicating that traders have increased their open positions by 40%, which is considered a positive sign in this bull run.

Meanwhile, some long-term holders appear to be dumping their holdings as sentiment shifts. Data from spot inflow/outflow reveals that exchanges have witnessed an inflow of over $18 million worth of DOGE.

In the cryptocurrency landscape, inflow refers to the movement of assets from long-term holders’ wallets to exchanges, which has the potential to create selling pressure and a price decline. However, as the accumulation is significantly higher, it may not lead to a price decline.

DOGE Technical Analysis and Upcoming Level

According to expert technical analysis, DOGE has been consolidating in a tight range between $0.375 and $0.398 for the past three days.

Based on recent price action, if the meme coin breaks this pattern and closes a daily candle above the $0.40 level, there is a strong possibility DOGE could soar by 44% to reach the $0.57 mark in the future.

As of now, market sentiment is bullish, with whales and traders showing strong interest and confidence in the meme coin. This could help DOGE breach the narrow zone and achieve the predicted target.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Bitcoin Faces Resistance at $119K as 613K BTC Threatens Selloff: What’s Next for BTC Price?

Bitcoin's upward momentum could face a major hurdle as over 613,000 BTC—worth billions—loom over the…

July 29, 2025

This ETH-Based Meme Coin Could Soar 9,900% and Turn $4,000 Into $400,000 Before Ethereum Reaches $10,000

Ethereum is the heart of the decentralized world, enabling all smart contracts, NFTs, and the…

July 29, 2025

Ruvi AI’s (RUVI) CoinMarketCap Listing Sparks Early Ripple (XRP) Excitement, Experts Say It’s This Summer’s Top Altcoin

The crypto world is in a frenzy over Ruvi AI (RUVI), the AI-powered altcoin that’s…

July 29, 2025

What Are JCOIN & JOYCOIN? Jd.com Moves Ahead of Hong Kong’s New Stablecoin Rules

Hong Kong’s stablecoin rules are set to launch this August, and JD.com is quietly making…

July 29, 2025

Corporate Ethereum Treasuries Could Hit 10% of Supply, Says Standard Chartered

Ethereum is entering a new phase of institutional adoption. From treasury strategies to bullish price…

July 29, 2025

Solana (SOL) Set to Hit $400 in 25 Days, While Viral Crypto Below $1 Could Flip $420 into $24,000 Before Cycle Top

Solana (SOL) has surged past $200, sparking excitement in the crypto market. Investors are buzzing…

July 29, 2025