Cryptocurrency whales have quietly been piling into Dogecoin (DOGE) over the past week, according to a string of on-chain observations and market-watchers. It is a move that has coincided with renewed price momentum for the meme token. Crypto analyst Ali Martinez flagged the buying spree in a blunt post on Wednesday: “2 billion Dogecoin $DOGE scooped up by whales in the last 7 days.”
How Big is that Stash?
Using CoinMarketCap’s live price snapshot, DOGE is trading around $0.238, which puts 2,000,000,000 DOGE at roughly $476 million (2,000,000,000 × $0.238 ≈ $476.1M). That valuation moves with the price, and some outlets rounding the figure have reported the accumulation as “about $500M.”
CoinMarketCap also shows DOGE sitting among the top crypto assets by market cap (top-10 ranking) with a 24-hour trading volume in the billions, data points that show the token’s liquidity and why whale flows matter for price action.
Market Reaction and Technical Picture
News of the whale accumulation has fed into an upbeat mood among traders. Several crypto analysts point to recent technical positives. There are short-term moving-average crossovers and bullish pattern signals that could fuel upside if buying continues. Experts highlighted a potential ascending-triangle breakout with near-term targets above the $0.25–$0.36 range, should momentum continue.
That said, market technicians caution that meme coins like DOGE can be volatile, and whale accumulation doesn’t guarantee steady gains. Large-holder buys can tighten supply and lift prices. However, concentrated holdings also raise liquidation and sell-pressure risks if those whales decide to lock profits.
Why it Matters
When whales buy tens or hundreds of millions of tokens, two main market dynamics can show up: (1) scarcity effects, which fewer coins available on the open market can push price upward if retail demand follows, and (2) flow risk, which large holders can materially affect price if they sell quickly. For meme assets whose narratives are as important as fundamentals, sentiment shifts (celebrity tweets, social media trends) can amplify both moves.
Analysts suggest watching a few things over the next few days: whether whale accumulation continues, changes in exchange inflows/outflows, and the broader cryptocurrency market context, especially Bitcoin’s price behavior, which often sets risk appetite for altcoins.
Ali Martinez’s tweet has put a spotlight on a week of heavy buying by large holders, and that activity is a plausible catalyst for the token’s recent uptick. If you’re tracking DOGE, keep an eye on on-chain dashboards and exchange flows for confirmation.
