Dogecoin Whales Gobble Up 560 Million Tokens, Renewing Interest and Confidence in the Meme Coin

Dogecoin whales are making moves again, scooping up a whopping 560 million DOGE tokens in just one week, as market conditions become more favorable.

Dogecoin whales are making moves again, scooping up a whopping 560 million DOGE tokens in just one week, as market conditions become more favorable. This large-scale purchase underscores the renewed interest and growing confidence in Dogecoin’s future potential. As demand surges, crypto community members ponder the reasons behind the massive accumulation and the impact on the price of Dogecoin.

Large Cryptocurrency investors, often known as “Whales,” have been observed making substantial Dogecoin purchases once more. According to crypto analyst Ali Martinez, these investors are making another round of large-scale purchases, with whale transactions (transfers exceeding $100,000) increasing again.

In a X (formerly Twitter) post on January 31, Martinez reported that Whales have accumulated 560 million DOGE tokens in one week. This activity follows a period of heavy market sell-offs, during which many investors sold their bags for profit due to bearish market conditions.

After its explosive surge in December, Dogecoin has encountered resistance in reclaiming previous price highs and sparking a rally past its ATH of $0.74. Initially rising above $0.4 and generating excitement among analysts with promising bullish predictions, the cryptocurrency experienced a sell-off due to bearish pressures and unexpected declines.

Now, however, Dogecoin whales appear to be re-entering the market with enthusiasm, rapidly acquiring as many DOGE tokens as possible.

Martinez also reported another large-scale transaction by Dogecoin whales just before Donald Trump's Presidential inauguration, revealing in an X post that the whales had acquired a total of 1.83 billion DOGE tokens within 48 hours. These massive buying sprees have drawn the attention of crypto community members, who are discussing the impact of these large-scale transactions.

Commenting on the recent rise in whale activity, crypto member Mohd Atif highlighted that these Dogecoin Whales may have knowledge of the meme coin's future price trajectory, as a surge in accumulation often shows increased confidence in a cryptocurrency's potential. The member further predicted a $1 price leap for Dogecoin, potentially driven by the activities of these large-scale investors.

Meanwhile, as Dogecoin Whales are buying up more tokens, the price of the meme coin is setting the stage for a potentially massive rally. According to crypto analyst Trader Tardigrade, past trends indicate that Dogecoin could be primed for a significant price increase.

Trader Tardigrave shared a distinct price chart, highlighting past trends when Dogecoin experienced a rally to new highs. In 2017, the meme coin skyrocketed to its highest level, experiencing a similar upward surge in 2021 during the previous bull run. With the 2025 bull market already underway, Trader Tardigrade believes that the Dogecoin price could have a repeat of historical trends and potentially surge to a new ATH target of $3.8.