DOGE news: Whales buy dips amid potential 30% rally

DOGE news: Whales buy dips amid potential 30% rally
Dogecoin might see a 30% recovery

​Large holders of Dogecoin are capitalizing on recent price declines, signaling their confidence in a potential 30% rally, according to on-chain data. 

Analysis by Santiment reveals that wallets holding at least 1 million DOGE have increased by 1.24% since early February, even as prices have trended downward. At the same time, active addresses have surged to a four-month high, suggesting growing network engagement and a possible shift from speculative trading to real adoption.

Market Context and Implications

Accumulation by Whales: Data shows a 1.24% increase in wallets holding 1 million+ DOGE, indicating that some of the memecoin’s richest holders are buying the dips.

The increase in active addresses—a key metric of user engagement—has reached a four-month high, implying that retail interest in Dogecoin may be on the rise. Similar on-chain patterns were observed during Dogecoin’s dramatic rally in November, when prices surged by more than 200%.

When large holders accumulate assets during market declines, it is often seen as a signal that they believe the asset is undervalued. In this case, the sustained accumulation by Dogecoin whales may lay the foundation for a significant price rebound. Increased active addresses further indicate that more users are engaging with the network, which could help drive a recovery if this activity represents genuine adoption rather than panic selling or short-term speculation.

Analysts note that if current trends persist, Dogecoin might see a recovery that pushes its price up by 30% or more. However, market volatility remains high, and investor caution is warranted. The recent uptick in network activity provides a positive indicator, but whether it will translate into lasting gains depends on broader market conditions and continued user engagement.

Importance for the crypto community

As the Dogecoin market matures, the actions of its largest holders will be key to its trajectory. Investors and market watchers should monitor these on-chain signals closely, as they could signal a shift from speculative trading to a more stable, adoption-driven rally.

We also previously wrote that Dogecoin price under pressure amid miner sell-off.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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