Whale Accumulation Fuels Dogecoinās Surge Amid ETF Speculation
Whale wallets holding 10Mā1BĀ DOGEĀ fueled a price surge, peaking at $0.427 on January 17 amid ETF optimism and bullish sentiment.
Dogecoinās price aligns with whale activity, with rebounds showing resilience; trading at $0.39992, itās up 19.10% in a week.
An 8-year ascending channel highlights Dogecoinās bullish trend, with ETF speculation driving renewed market interest in 2025.
DogecoinĀ ($DOGE) experienced remarkable price activity recently, largelyĀ influenced by whale accumulationĀ and ETF-related optimism. purchases of 590 million DOGE by large wallet holders drove the market higher. The price peaked at $0.427 on January 17, a substantial increase.Ā
CryptoĀ analyst AliĀ shows dataĀ from Santiment showing the correlation between whale activity and price dynamics. He believes this surge reflects bullish sentiment strengthened by ETF prospects and growing interest in the asset.
Whale Holdings Drive Price Growth
Wallets holding between 10 million and 1 billion DOGE coins demonstrated noticeable accumulation trends. Between January 12 and January 17, whale holdings increased.
Consequently, the price mirrored this upward momentum, climbing sharply during the same period. Notably,Ā Dogecoinās value began rising on January 10, peaking seven days later.
Besides the correlation with whale activity, market excitement surrounding a potential Dogecoin ETF adds to the bullish sentiment.
The sharp price decline after January 17, reaching $0.313 on January 20, aligns with reduced whale holdings.
However, the price quickly recovered to $0.379 by January 21, signaling resilience.
Dogecoinās Long-Term Bullish Channel
Ali also highlighted Dogecoinās ascending price channel since 2017. This technical framework defines price movements over eight years. The price frequently oscillates between the channelās lower, mid, and upper bands.
In early 2021,Ā Dogecoinās priceĀ broke past the upper band, marking a historic surge.
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