Dogecoin’s Biggest Wallets Go On Buying Spree While Price Stalls – Is A Massive Rally Imminent?

While Dogecoin's price action looks sleepy, its wealthiest holders are wide awake and buying.

The Whale Watch Is On

On-chain data reveals a clear pattern: the largest Dogecoin wallets, often called 'whales,' have kicked their accumulation into high gear. This isn't casual shopping; it's strategic, rapid accumulation happening against a backdrop of sideways price movement. The big money is moving while retail investors are distracted.

Decoding the Accumulation Signal

Historically, concentrated buying from deep-pocketed investors often precedes major price moves. They have the capital to absorb sell pressure and the patience to wait for their thesis to play out—something the average trader staring at a five-minute chart usually lacks. Their current activity suggests they see value at these levels, betting that the current struggle is a setup, not a breakdown.

A Surge on the Horizon?

This divergence between whale activity and price creates a potent setup. It hints at underlying strength the broader market hasn't priced in yet. When whale accumulation reaches a critical mass, it can act as a launchpad, with their buying alone soaking up available supply. The question isn't just if a surge is coming, but how explosive it could be once this coiled spring releases.

Of course, in crypto, even the smart money can be wrong—after all, this is an asset whose original whitepaper was a joke, now analyzed with the solemnity of a Federal Reserve report. But when the wallets with the most to gain start acting in unison, it's rarely wise to bet against them.

Dogecoin Whales Accumulation: What the Numbers Show

The data from Santiment highlights a quick climb in holdings among Dogecoin addresses holding between 1 million DOGE to 100 million DOGE tokens. Particularly, the data shows that the collective holding of this cohort has grown from 27.79 billion on December 3 to 28.34 billion DOGE at the time of writing. That equates to an increase of about 550 million DOGE in roughly 48 hours, a meaningful inflow even for a large-cap crypto like Dogecoin.

This trend shows that these mid-size and large holders view current prices as favorable entry points. Broad accumulation by this “whale tier” often precedes consolidation phases or, in some cases, precedes upward moves, especially if retail sentiment is weak and fewer coins are being sold into the market.

Interestingly, this accumulation, which kicked off after dogecoin fell to the mid-$0.13 range on December 3, contributed to a rebound at this level that contributed to the meme coin reaching an intraday high of $0.1504 in the past 24 hours. 

Is A Surge Coming For Dogecoin?

Accumulation by larger wallets can reshape market conditions in subtle but meaningful ways. First, it reduces the circulating supply available to typical retail traders, which can tighten availability and potentially support price stability or upward pressure. Second, it reflects conviction. Large holders are showing confidence in DOGE’s long-term value, even when price action is not yet bullish. 

Furthermore, this recent buying represents the first clear shift in sentiment among whale cohor

s after weeks of steady distribution. Santiment’s data shows that these wallets had been decreasing their balances since mid-October, and the trend coincided with a drop in large transactions that pushed activity to a two-month low.

While accumulation may set the stage for a rally, there are still structural challenges that Dogecoin must face. Technical analysis suggests that $0.138 is a critical level for confirming whether a firm bottom has formed. Sustained trading above that zone in the coming weeks WOULD strengthen the case that the worst of the downturn is over.

At the same time, crypto analyst Bitcoinsensus outlined a possible upside target in the $0.70 to $0.75 region as the peak of the current cycle. This price target aligns with other technical projections for the meme coin.