Dogecoin Whales Go on 470 Million DOGE Buying Spree Amid Bullish Recovery In Major Metrics
surprisingly, Dogecoin whales are buying on a massive scalea new report shows that these large investors have added up to 470 million DOGE to their portfolios. This large-scale purchase comes at a good time Dogecoin’s Bullish Recovery On key metrics, analysts expect a significant boost to the upside.
Dogecoin whale buys 470 million DOGE
Popular cryptocurrency analyst Ali Martinez disclose On January 11, on X (formerly Twitter), Dogecoin Whales are gathering again. Martinez announced the latest acquisition of DOGE by these deep-pocketed investors, highlighting that Whales had recently purchased over 470 million tokens.
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The large purchase of DOGE occurred within the past 48 hours and is worth approximately $155 million based on current market prices. Such Massive whale activity Typically signals renewed interest in cryptocurrencies and can influence market sentiment and trends.
Martinez shared a chart showing data related to Dogecoin, focusing on the behavior of whales holding between 10 million and 100 million DOGE in assets. The shaded area on the chart highlights the cumulative holdings of these wallets holding millions of DOGE.
Around late December 2024, Dogecoin whale holdings were relatively stable, but began to Significant increase in early January 2025. CEO, Cryptocurrency Analyst at X, commented Amid this surging accumulation trend, whales purchased over 1 billion Dogecoin in the past seven days.
Martinez’s chart also shows large Dogecoin purchases between $0.314 and $0.355. These prices highlight areas where Dogecoin has experienced significant volatility and minor corrections, showing Buying opportunities for investors. Dogecoin previously surged to new highs above $0.4 in 2024. steep correction Pushing its price back towards the $0.3 mark.
Interestingly, the whale’s purchase of 470 million Dogecoin comes at a time when the cryptocurrency is experiencing a steady bullish recovery on important metrics. Cryptocurrency analyst Javon Marks revealed that Dogecoin is forming a new falling wedge pattern. Additionally, an X market expert known as “Rose Premium Signals” has disclose Dogecoin’s macro chart shows a strong bullish structure as it accumulates near key support areas and remains consistent with the long term Fibonacci levels.
DOGE forms new falling wedge pattern
As mentioned earlier, Dogecoin is currently forming a new falling wedge patternmarking another potential price breakout. mark point out In his X post, the popular meme token is well-positioned to continue another massive bullish trend once it breaks out of the falling wedge pattern.
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falling wedge, also known as falling wedgeis a technical chart pattern that indicates the likelihood of a price reversal or continuation. This is a bullish pattern that usually occurs during a downtrend, and its completion is marked by a break above the upper trendline.
Marks predicts that if Dogecoin breaks out of the falling wedge pattern, it could reach new highs soon, reflecting a potential 120% growth. Analysts revealed that this Prices rise sharply It could happen soon, pushing Dogecoin from the current market price of $0.33 to a new bullish target of $0.739.
Featured image created using Dall.E, chart from Tradingview.com
