480,000,000 DOGE Snapped Up by Whales in 48 Hours: What’s Coming?

Dogecoin (DOGE) is back in focus following a sharp increase in whale activity. This shift in accumulation comes as the OG meme coin faces growing interest from both users and institutions.

Large Holders Add DOGE During Price Dip

Between December 2 and December 4, wallets holding between 1 million and 100 million DOGE increased their total balance by around 480 million tokens, based on data from Santiment shared by analyst Ali Martinez. This brought total whale holdings from about 28 billion to 28.48 billion DOGE in just two days.

The buying came as Dogecoin rebounded from $0.14 to $0.15 after a recent decline. DOGE is down 2% over the past 24 hours and 2% over the past week. The timing of the accumulation suggests large players stepped in near a local bottom.

As CryptoPotato recently reported, the TD Sequential setup has printed a potential buy signal. This indicator has previously marked turning points during correction phases. In addition, data from Glassnode shows that around 11.72 billion DOGE were acquired between $0.2028 and $0.2044. This concentration creates a strong resistance zone.

Many wallets that purchased DOGE near $0.20 are now holding at a loss. This could increase sell pressure if the price returns to that range, as traders may look to exit near breakeven.

Network Activity Hits 3-Month High

DOGE recently recorded 71,589 active addresses, the highest since September, according to Martinez. This signals growing user activity despite the downward trend in price. The surge in network usage coincides with recent filings from 21Shares and Grayscale, who advanced proposals for spot DOGE ETFs, raising hopes for broader market exposure.

However, 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 Pattern Still in Place

A long-term chart shared by Trader Tardigrade shows Dogecoin 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.

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