- A whale’s transfer of 175M DOGE and $72M in DOGE outflows from exchanges signal strong accumulation, hinting at a potential bullish rally.
- With DOGE trading near key support levels and trading volume surging, analysts predict a potential 30% breakout to $0.42.
As Dogecoin Whale Accumulates 175M DOGE, What’s Next for the Meme Coin? In this article, we delve into the recent developments surrounding Dogecoin (DOGE), which has captured significant attention despite a broader cryptocurrency market downturn on January 27, 2025.
While the market faced notable selling pressure, Dogecoin emerged as a focal point, with traders and investors doubling down on the popular meme coin. Recent data highlights a clear trend of accumulation, particularly by large-scale investors, or “whales.”
Whale Alert, a blockchain-based transaction tracker, recently reported on X a massive Dogecoin transaction. According to the alert, a crypto whale moved 175.27 million DOGE, valued at approximately $54.68 million, from Binance to an unknown wallet. The identity of the wallet remains undisclosed, fueling speculation about the whale’s intentions.
This significant transaction is not an isolated event. On-chain analytics from Coinglass reveal that over the past 48 hours, approximately $72 million worth of DOGE has been withdrawn from exchanges, a typically bullish signal that points to accumulation.
Increased Activity Amid Price Decline
In a related development, CNF reported that Dogecoin is predicted to reach $3 during this market cycle, as whales holding between 10 million and 100 million DOGE have recently acquired an additional $140 million worth of DOGE in just one week.
Currently, Dogecoin (DOGE) is trading at $0.3354, reflecting a 2.04% increase over the past day but a 2.41% decline in the past week. Notably, trading volume surged by 180% during the same period, signaling heightened market activity and growing interest from traders. See DOGE price chart below.
Additionally, the Long/Short ratio stands at 1.15, with 53.50% of top traders holding long positions, further indicating bullish sentiment.
Potential for a Bullish Breakout
DOGE is currently trading near its critical support level of $0.30, a threshold that has historically triggered significant upward momentum. Market analysts suggest that this accumulation phase by whales and long-term holders could pave the way for a 30% rally, potentially pushing DOGE’s price to $0.42 in the near term.
This outlook is bolstered by the sustained increase in whale activity, reduced supply on exchanges, and a surge in trading volume. Combined, these factors hint at an optimistic trajectory for Dogecoin in the evolving cryptocurrency landscape.
