Dogecoin (DOGE) Whales Accumulate 1.08B Coins in 2 Days, Bringing Stash Back to December Lows

Dogecoin (DOGE) whales have picked up the pace of their accumulation once again, with recent data indicating that they acquired over 1.08 billion DOGE in just two days. This development marks a renewed interest from whales in acquiring the meme coin, following a period of slowing acquisitions.

According to X cryptocurrency analyst Ali Martinez, the last time whales acquired a comparable amount of DOGE was after the December 20 low. Notably, the recent accumulation brought the total holdings of the top five Dogecoin addresses to 37.08% of the circulating supply.

Dogecoin whales last acquired a comparable amount of DOGE following the December 20 low. Notably, the recent accumulation brought the total holdings of the top five Dogecoin addresses to 37.08% of the circulating supply.

After surging to a high of $0.4665 on December 8, the price of DOGE dropped by 32.22% to close the year at $0.31616. However, the coin has since recovered to $0.36256 at the time of writing.

Meanwhile, Dogecoin saw a 331.16% return in 2024, despite kicking off the year at $0.14. Countering the meme coin’s surge, the flagship crypto Bitcoin (BTC) rose by 48.06% in 2024, while the second-largest crypto Ethereum (ETH) experienced a gain of 92.87%.

DOGE whales ramp up acquisitions as price recovers

After beginning 2025 at $0.3283, the price of Dogecoin has risen by 10.65% year-to-date. This surge follows a 331.16% return clocked by DOGE in 2024. Countering the meme coin’s surge, the flagship crypto Bitcoin (BTC) rose by 48.06% in 2024, while the second-largest crypto Ethereum (ETH) experienced a gain of 92.87%.

Dogecoin whales last picked up a comparable amount of DOGE following the December 20 low. Notably, the recent accumulation brought the total holdings of the top five Dogecoin addresses to 37.08% of the circulating supply.

Dogecoin whales last acquired a comparable amount of DOGE following the December 20 low. Notably, the recent accumulation brought the total holdings of the top five Dogecoin addresses to 37.08% of the circulating supply.

While many commentators panicked following longtime Dogecoin supporter Elon Musk’s endorsement of Kekius Maximus (KEKIUS) on January 1, it has become clear that DOGE’s staying power is no longer in question — and that the popularity it enjoys has become organic, rather than being driven by endorsements.

Several technical analysts have also outlined bullish cases for DOGE. The meme coin recently broke out of a downward triangle chart pattern and could meet resistance at $0.42. The analyst who first spotted the pattern, Trader Tardigrade, set a long-term price target of $3.20 for Dogecoin, while crypto researcher TradingShot cited the cryptocurrency’s performance in December and January during previous market cycles when setting his $1.50 price target for Q1 2025.