In a move that has the crypto world buzzing, large investors, known as "whales," have accumulated a staggering one billion DOGE, worth roughly $200 million, in the past 24 hours. This massive accumulation comes as Dogecoinโs price has been trading around the $0.20 mark following a recent downturn. The sudden buying spree has ignited speculation about what these key players might know and what could be in store for the meme coin.
This significant purchase reduces the supply of DOGE on the open market and could potentially trigger a price rally if demand holds steady. Analysts are suggesting that these whales might be acting on insider information ahead of a major market event. The most likely catalyst? The potential approval of the first spot Dogecoin exchange-traded fund (ETF) in the United States. With the odds of an SEC approval before the end of 2025 now standing at 74%, up sharply from just a few days ago, many believe this could be the reason for the sudden accumulation.
However, opinions on DOGE's future are sharply divided. Some analysts, like X user Marcus Corvinus, are bullish, calling Dogecoin "the real silent killer" and predicting a rise to nearly $0.50 in the coming months based on its chart patterns. In contrast, other analysts, such as Astekz, have a more bearish outlook, describing DOGE's current state as "horrendous" and warning that any short-term gains could be followed by a significant price drop.
With whales now collectively holding almost 50% of the meme coin's circulating supply, the question remains: are they preparing for a major pump, or is there another motive behind their massive buy-in?
Sources: Cryptopotato on Tradingview