- Dogecoin whales moved $23.35 billion worth of DOGE in just 24 hours, signaling potential accumulation despite flat price movement.
- While the token’s price remains steady around $0.2252, declining retail interest contrasts sharply with rising whale activity, hinting at a possible future rally.
Dogecoin (DOGE) has once again captured the spotlight, not due to a meme or a viral tweet, but from a massive surge in whale activity. Over the past 24 hours, large holders of the meme coin moved a staggering 60.9 billion DOGE — worth approximately $23.35 billion — according to data from IntoTheBlock.
RELATED:What’s Fueling the Surge in Bitcoin, Ethereum, and Dogecoin Today?
Whale Activity Suggests Quiet Accumulation
This remarkable 41.12% spike in large transaction volume has sparked speculation across the crypto community. Analysts believe such behavior typically signals growing interest and quiet accumulation by major investors, even as the broader crypto market cools off from recent highs.
Notably, a mysterious whale recently withdrew 260 million DOGE from Robinhood, a move interpreted by many as a strategic accumulation rather than mere reshuffling of assets. While the motive behind these transfers remains uncertain, such actions often precede sharp price movements.
MIGHT ALSO LIKE:Pi Network Price Prediction: A Wake-Up Call for Early Miners
Price Stays Flat Despite Whales on the Move
Interestingly, despite the flurry of whale activity, DOGE’s market price has remained largely unchanged.At Press time, the token is trading near $0.2252, marking only a 0.41% uptick over the last 24 hours. According to CoinMarketCap, DOGE’s overall trading volume has also taken a hit, dropping by around 25% in the same period.
This disconnect between whale activity and market price suggests that while large players are positioning themselves for future gains, retail investors are holding back — possibly waiting for clearer signals before jumping back in.
What Comes Next for DOGECOIN?
The surge in whale activity may hint at growing confidence among institutional players or high-net-worth individuals in DOGE’s long-term potential. However, with retail trading volume down and prices relatively stagnant, the next significant move could go either way.
Whether this is a sign of a brewing breakout or just another phase of market recalibration remains to be seen. For now, all eyes are on Dogecoin’s next move — and on the whales quietly making waves beneath the surface.
ALSO READ:XRP Consolidates Near $2.36 as Traders Await Breakout Signal
DISCLAIMER:
The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.