Dogecoin, which launched on December 6, 2013, has been in the spotlight once again as whales accumulate over 1 billion DOGE as the cryptocurrency awaits a bull run this year. This continued accumulation coincides with a significant technical shift. The Supertrend indicator on Dogecoin’s three-month chart has turned green, indicating a new upward trajectory for the Elon Musk-backed meme coin.

Big Players Accumulating Dogecoin

According to data from a renowned market expert, Ali Martinez, whales holding between 10 million to 1 billion DOGE have accumulated approximately 1.08 billion tokens as of January 2, 2025. Notably, this impressive DOGE token accumulation occurred after a long period of inactivity, marking their first purchase since December 8, 2024.

Current data shows that whales collectively hold 46.36 billion DOGE. This amount accounts for up to 31% of the total DOGE supply, at over 147.45 billion. This accumulation comes after a distribution phase in early December 2024, when whales sold off their holdings as Dogecoin faced resistance at $0.4844.


The recent increase in Dogecoin accumulation by large investors signals a strategic move, likely to leverage a resurgence early in the year for the cryptocurrency. Notably, DOGE has shown a gain of 7.44% in 2025, indicating a potential shift in market sentiment towards bullish after a period of volatility at the end of 2024.

DOGE Signals Bullish on 3M Chart

Contributing to the growing enthusiasm, the Supertrend indicator on Dogecoin's three-month chart has turned green for the first time since January 2022. Notably, Supertrend is a widely used technical tool to track price trends and volatility. Price above the Supertrend line indicates an uptrend, while price below the Supertrend line indicates a downtrend.

While Dogecoin saw significant price increases in 2024, notably an 87% increase in March and a 161% increase in November, the Supertrend indicator consistently maintained a bearish trend throughout the year.

However, the recent bullish crossover of Supertrend indicates the possibility of a change in market trends, fueling optimism for a strong price rally reminiscent of previous bull cycles.

Historical data shows that this technical change could be significant. The last bullish reversal on Dogecoin's three-month Supertrend chart occurred in April 2017. This event followed a notable price increase.

By January 2018, the digital asset had skyrocketed 5,587%. This upward momentum continued, leading to the next bull run of 3,837%, peaking at $0.7390 in May 2021.

At the time of writing, Dogecoin's DOGE has kicked off 2025 with strong momentum. Notably, DOGE is changing hands at a price of $0.3395 after increasing by 0.74% in the past 24 hours. Similarly, this digital asset has risen by 4.84% over the past week.

Additionally, the digital asset currently has a market capitalization of $50.06 billion after increasing by 0.73%. This digital asset has recorded a decrease of 19.09% in the past month. Also noteworthy is that the 24-hour trading volume of DOGE has decreased by 5.81%, stopping at $2.46 billion.

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