After an impressive performance at the end of July, the price of Dogecoin has recently dropped sharply and is currently trading around $0.20 (according to CoinGecko data). However, recent moves by large investors (also known as whales) signal that another recovery may be on the horizon.
Famous analyst Ali Martinez revealed on X that participants in this market have accumulated one billion DOGE in the last 24 hours. This amount is equivalent to about $200 million, and this group of investors now holds a total of 72.64 billion tokens (nearly 50% of the circulating supply of this meme coin).
Buying into this type will reduce the amount of coin on the open market and may trigger a price increase (assuming demand does not drop). Additionally, retail players may view this as an encouraging sign and follow suit.
There is a popular hypothesis that whales have access to insider information about key events that may affect the market, which could explain their sudden buying or selling efforts. A potential development that could positively impact Dogecoin's valuation is the approval of the first spot DOGE exchange-traded fund (ETF) in the U.S.
Several companies are ready to introduce this investment vehicle, including Bitwise, 21Shares, and Rex Shares. The chance of a green light before the end of 2025 was 56% on August 3, but has since surged to the current 74%.
The question now is whether the whale investors have filled their bags waiting for the final "yes" answer from the U.S. Securities and Exchange Commission (SEC) or if there are other motives behind their move.
Next Targets
DOGE remains one of the most discussed topics in the cryptocurrency community, with many envisioning significant advancements in the near future.
User X Marcus Corvinus describes this meme coin as a "real silent killer," asserting that it is "undervalued by a lot" compared to its peak in 2024 and its ATH in 2021. The analyst cited the bullish structure of Dogecoin and several chart patterns to predict an increase to nearly $0.50 in the coming months.
Others have made more pessimistic forecasts. User X Astekz argues that the current situation of DOGE looks "very bad". They suggest that buyers might get lucky with a 20% increase, but afterwards, the price could drop sharply.
