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Recent on-chain data has revealed that Dogecoin whales are back in the market and accumulating tokens en masse. Based on the current state of the market, these whales appear to be taking advantage of low prices to buy more DOGE tokens in hopes of an imminent rally.
Dogecoin Whales Are Back In Action
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In an X (formerly Twitter) post on April 15, crypto analyst Ali Martinez announced that Dogecoin whales have returned to the scene with significant accumulation activity after initiating a massive sell off previously. These large-scale crypto holders reportedly acquired over 800 million DOGE tokens within a 48-hour period. With Dogecoin trading around $0.16 at the time, the total
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