Dogecoin Whales Buy 480 Million Tokens in 48 Hours
Dogecoin (DOGE) is back in the spotlight as whales have purchased 480 million tokens in just 48 hours. With the price at $0.14 and network activity rising, traders are watching the $0.20 resistance level for the next move.
Whale Accumulation
Between December 2 and December 4, large holders increased their DOGE balance by approximately 480 million tokens. This data comes from Santiment and was shared by analyst Ali Martinez, indicating a substantial increase in whale holdings from about 28 billion to 28.48 billion DOGE in just two days.
Price Impact
The accumulation occurred as Dogecoin’s price rebounded from $0.14 to $0.15. Despite this recent activity, DOGE is down 2 % over the past 24 hours and 2 % over the past week. The timing of the accumulation suggests that large players may have stepped in near a local bottom.
Technical Signals
Analysts have noted that the TD Sequential setup has printed a potential buy signal, which has historically marked turning points during correction phases. Additionally, data from Glassnode shows that around 11.72 billion DOGE were acquired between $0.2028 and $0.2044, creating a strong resistance zone at $0.20. Many wallets that purchased DOGE near $0.20 are now holding at a loss, which could increase sell pressure if the price returns to that range.
Network Activity
Network activity for Dogecoin has also surged, with 71,589 active addresses recorded—the highest since September. This increase in network usage coincides with recent filings from 21Shares and Grayscale, who have advanced proposals for spot DOGE ETFs, raising hopes for broader market exposure.
Market Disconnect
Despite the surge in network activity, whale inflows have remained low since November, and ETF‑related interest has not yet translated into price strength. The contrast between increasing address activity and falling prices points to a disconnect between user engagement and market demand.
Long‑Term Chart Outlook
Looking at the long‑term chart shared by Trader Tardigrade, Dogecoin appears to be following a familiar path. The asset has been building a series of higher lows above a trendline that resembles its structure before the 2021 rally. That earlier phase also saw extended consolidation before a breakout. Based on this chart, the coin may be entering a more volatile period. The setup looks similar to past cycles, though the price would still need to clear resistance levels to confirm a larger move.
Summary
In summary, Dogecoin has seen a significant increase in whale activity and network usage, with large holders accumulating 480 million tokens in just 48 hours. While the price has rebounded slightly, it remains down over the past week. Traders are watching the $0.20 resistance level closely, as it could determine the next market move. With network activity at a three‑month high and potential ETF filings on the horizon, Dogecoin is once again in the spotlight. However, the disconnect between user engagement and market demand suggests that caution may be warranted as the market watches for further developments.
