Dogecoin whales, owning between 10 million and 100 million DOGE, have increased their holdings by 410 million DOGE, currently valued at $140 million.
This accumulation indicates confidence in DOGE's near-term potential and could reduce its circulating supply, driving up prices.
The negative market value to realized value (MVRV) ratio suggests DOGE is undervalued, presenting a buying opportunity.
If DOGE whales continue to accumulate, it could push the price to $0.48, whereas resuming selloffs might bring it down to $0.29.
