Doge Whales Grab 270 Million DOGE
The latest DOGE price drop would have led to huge liquidations, but Dogecoin whales have capitalized. These whales now buy Dogecoin in massive quantities, with the last transaction being 270 million. They see the decline as a cheap market entrance.
The recent Dogecoin price drop has pushed wealthy investors, known as “whales,” to buy additional coins. On Tuesday, prominent crypto researcher Ali Martinez revealed on X (previously Twitter) that Dogecoin whales acquired 270 million DOGE coins in five days.
This enormous 270 million DOGE purchase is part of a meme coin network-wide accumulating trend. Martinez has seen whales acquire hundreds of millions of DOGE throughout the decline since November.
The expert said on December 21 that Dogecoin whales bought 250 million DOGE during the market slump. Because DOGE's decrease was a good entry moment, investors took this brave move, a common practice among larger players who acquire tokens at a cheaper price for long-term returns.
Recent DOGE purchases by whales may signal significant trust in the Coin's future.
While positive sentiment for DOGE remains high, Dogecoin whales are taking advantage of falling prices to enhance their holdings and prepare for a rebound. Dogecoin is presently worth $0.33, therefore the 270 million DOGE purchase is worth $89 million.
Pattern Repetition Could Push DOGE to $5
A graphic by crypto expert Trader Tardigrade shows a repeating Dogecoin pricing pattern. A repeat of this historical tendency might cause Dogecoin to soar, says the expert.
The chart shows DOGE's rounded consolidation stages in multiple cycles as red curving lines and a consistent bullish trend as green ascending lines. Dogecoin's price spikes at the conclusion of each consolidation phase in the chart.
