Dogecoin whales are buying the dip, with a recent accumulation trend signaling a possible end to the ongoing price decline.
The crypto market has developed over the past week has fallen into the unknown as the Federal Reserve lowered its liquidity forecasts for 2025.
Among the assets hit hardest by the subsequent bust is the leading dog-themed meme coin. Dogecoin (DOGE)which fell as much as 34% from highs of $0.39639 to lows of $0.26216. Despite the carnage, a class of investors appears to remain confident about DOGE’s prospects.
Dogecoin whales create 270 million DOGE splash
In an X contribution On Tuesday, December 24th, well-known crypto analyst Ali Martinez shared Santiment feed data that suggests whales with holdings between 10,000,000 DOGE and 100,000,000 DOGE have moved 270 million coins in the last four days Having accumulated a value of approximately $90.4 million at current prices.
Crypto whale activity often anticipates market movements, which in this case signals a potential upswing. Certainly, DOGE has already shown some signs of recovery, recovering 27% from the lows of the last two days to stand at $0.33317.
The recent whale accumulation coincides with the view of several analysts that the price of the dog-themed meme coin still has upside potential.
Correction just a matter of course?
In recent days, several analysts have suggested that DOGE’s recent correction was expected and may be setting the stage for an even bigger rally. Among them is Ali Martinez.
On Monday, December 23rd, Martinez claimed that DOGE could repeat its 2017 and 2021 run, with a potential upside target of $18…
