The main memecoin, DOGE, is among the assets that cryptocurrency whales are accumulating for potential gains in June. This trend is reflected in the recent increase in DOGE accumulation among whale wallets that hold between 1 million and 10 million tokens.
According to Santiment, this group of DOGE whales added 30 million tokens to their wallets over the last week.
Such buying activities by whales often serve as a strong signal for retail traders.
Seeing large investors confidently increase their positions can encourage retail participation. This could drive the price of DOGE up as the buying momentum builds across the market. If buying pressure persists, the token could resume its rally and rise to $0.206.
However, if whale accumulation stops and selling strengthens, the price of DOGE could fall to $0.175.
