Whales Strengthen Their Positions
Dogecoin whales have significantly increased their holdings, accumulating over 1 billion DOGE tokens. This move coincides with a bullish shift in the Supertrend indicator on the 3-month chart.
The recent accumulation occurred amidst broader market uncertainty. While 2024 was a successful year for Dogecoin, with a 252% increase, the final days of December saw heightened volatility.
Renewed Accumulation by Dogecoin Whales
As 2025 begins, Dogecoin has already gained 7.44%, and whales appear to be capitalizing on the upward momentum. According to market analyst Ali Martinez, whales holding between 10 million and 1 billion tokens accumulated approximately 1.08 billion DOGE within 24 hours starting January 2.
This accumulation raised their total holdings to 46.36 billion tokens, accounting for 31% of Dogecoin’s total supply. Data from Santiment shows that whales reduced their holdings in December 2024 when DOGE faced resistance at $0.4844. Their activity paused until the new year, when they began a fresh round of purchases, signaling renewed optimism.
Supertrend Indicator Turns Bullish
The Supertrend indicator, which signals trends based on price and volatility, has turned bullish on the 3-month Dogecoin chart. This indicator had remained bearish since January 2022, despite multiple price surges during 2024.
The bullish shift occurred in January 2025, indicating Dogecoin is entering a new bullish phase. Historically, the Supertrend indicator last turned bullish in April 2017, leading to gains of thousands of percentage points.
Potential Explosive Growth for Dogecoin
If the Supertrend indicator’s history repeats, Dogecoin could be on the verge of another significant rally. Analysts are already forecasting potential price targets of $4.
At the time of writing, Dogecoin is trading at $0.3403, up 3.16% in the past 24 hours. The crypto community eagerly awaits confirmation of these bullish signals and whether Dogecoin will reach its next historic milestone.
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