- Dogecoin whales have accumulated over 1B DOGE tokens, bringing their collective holdings to 46.36 billion and signaling renewed optimism.
- Whale accumulation, a bullish Supertrend signal, and a historical precedent of strong rallies following similar technical shifts are all contributing to a growing belief in Dogecoin’s price potential in 2025.
Dogecoin, launched on December 6, 2013, has taken center stage again as whales accumulate over 1 billion DOGE as the cryptocurrency awaits a bullish stretch this year. This sustained upward accumulation falls in line with a significant technical shift.
The Supertrend indicator on Dogecoin’s three-month chart has flipped green, indicating a renewed upward trajectory for the Elon Musk-endorsed meme coin.
Big Players Accumulate Dogecoin
According to data from a renowned market Pundit, Ali Martinez, whales holding between 10 million and 1 billion DOGE amassed approximately 1.08 billion tokens on January 2, 2025. Notably, this impressive accumulation of DOGE tokens comes after a prolonged period of dormancy, flagging their first purchase after December 8, 2024
Current data has revealed that whales collectively hold a significant 46.36 billion DOGE. This amount substantially represents 31% of the total DOGE supply which stands at over 147.45 billion. This accumulation follows a period of distribution in early December 2024, when whales sold off holdings as Dogecoin encountered resistance at $0.4844.
Whales bought over 1.08 billion #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/Ow2j6I1MDV
— Ali (@ali_charts) January 2, 2025
The recent surge in Dogecoin accumulation by prominent investors signals a strategic maneuver, likely capitalizing on the cryptocurrency’s early-year resurgence. Notably, DOGE has demonstrated a 7.44% gain in 2025, suggesting a potential shift in market sentiment towards bullish momentum following a period of volatility in late 2024.
Bullish DOGE Signals on the 3M Chart
Adding to the growing enthusiasm, the Supertrend indicator on Dogecoin’s three-month chart has turned green for the first time since January 2022. It is worth mentioning that the Supertrend is a widely used technical tool that tracks price trends and volatility. Prices above the Supertrend line signal an uptrend, while those below indicate a downtrend.
While Dogecoin experienced substantial price increases in 2024, notably an 87% surge in March and a 161% jump in November, the Supertrend indicator consistently maintained a bearish stance throughout the year.
However, the recent bullish crossover of the Supertrend suggests a potential shift in the market trend, fueling optimism for a strong rally, reminiscent of previous bullish cycles.
Historical data suggests this technical shift could be important. The last bullish flip on Dogecoin’s three-month Supertrend chart occurred in April 2017. This followed a remarkable price surge.
By January 2018, the digital asset had surged 5,587%. This momentum continued, leading to a further 3,837% rally, peaking at $0.7390 in May 2021.
At the time of writing, Dogecoin’s DOGE has commenced 2025 with strong momentum. Notably, DOGE is swapping hands with $0.3395 after a 0.74% surge in the past 24 hours. On the same, the digital asset has surged 4.84% in the past week.
Additionally, the digital asset which at the moment holds a market cap of $50.06B after a 0.73% surge, the digital asset has recorded a decline of 19.09% in the past month.
It is also worth mentioning that DOGE’s 24 hour trading volume has seen a 5.81% decline stopping at $2.46B.
