Dogecoin whales have accumulated 750 million DOGE tokens amid a price decline. Currently, DOGE is trading at $0.2605, reflecting a 2.35% drop. The broader crypto market is experiencing a downturn, struggling to regain previous levels. While Bitcoin remains above $98,000, Ether briefly tested $2,800 before settling at $2,781. Consequently, the total crypto market capitalization remains below $3.3 trillion without significant growth.
According to a recent post by market analyst Ali Martinez, Dogecoin whales took advantage of the dip, acquiring a massive 750 million DOGE tokens at the current price level. This purchase was collectively made by holders possessing between 10 million and 100 million DOGE. The combination of whale accumulation and the potential for price appreciation indicates strong confidence among Dogecoin investors regarding a future surge.
Can DOGE Reclaim the $0.40 Price Level?
At press time, Dogecoin is trading around $0.26, reflecting a more than 2% dip in the last 24 hours. Earlier today, it dropped to $0.2544 before rebounding to its current level. The market capitalization has also declined by 2.31%, remaining above $38.68 billion.
The recent accumulation of 750 million DOGE by whales signals potential bullish momentum. However, a 40% drop in 24-hour trading volume suggests mixed sentiment in the market. 
Meanwhile, the ongoing global economic instability, partly influenced by Trump’s past policy decisions, continues to impact the crypto sector. Despite this, the community remains optimistic about a significant bull run this year, with Bitcoin expected to reach new all-time highs.
As the leading memecoin by market cap, Dogecoin is likely to follow Bitcoin and Ether’s trajectory. Moreover, whale accumulation will further reinforce its bullish momentum once DOGE enters an uptrend in the coming weeks.
