Dogecoin whales have been on an accumulation spree, purchasing about $1.08 billion DOGE. This is a bullish signal for DOGE's price, potentially causing a recovery rally. The 'Supply Distribution' by Santiment shows whale holdings have surged recently, reversing previous selloffs.
Whales hold significant market power, and their increased holdings could strongly impact DOGE's price, which recently touched $0.350 before retracing to $0.349. It's unclear if these whales will drive further growth or seek quick profits, affecting DOGE's momentum. The impacts of whale activities on DOGE highlight the market's speculative nature, driven by large entity actions.
