After showing strength in late July, Dogecoin has taken a sharp dip and now trades near $0.20 (CoinGecko). But despite the pullback, big players—known as whales—are making bold moves that suggest a potential turnaround.
On X, crypto analyst Ali Martinez revealed that whales have accumulated 1 billion DOGE in the past 24 hours—roughly $200 million worth. These investors now control 72.64 billion $DOGE , nearly half of the coin’s circulating supply.
Such heavy buying can tighten market supply, potentially setting up a price rebound if demand holds. Retail investors often see whale activity as a signal and may jump in, adding fuel to the rally.
There's also a theory that whales act on privileged information, especially regarding upcoming market-moving news. One possible trigger? A U.S. approval for the first spot Dogecoin ETF. Major players like Bitwise, 21Shares, and Rex Shares are reportedly ready to launch, and the odds of SEC approval before the end of 2025 jumped from 56% on August 3 to 74% today (Polymarket data).
So, are whales stacking DOGE in anticipation of an ETF greenlight—or is there something else brewing?
Price Outlook
Dogecoin continues to stir debate. Some, like analyst Marcus Corvinus on X, call it a “silent killer,” claiming it's still massively undervalued compared to its 2024 high and 2021 all-time high. He predicts DOGE could reach $0.50 in the coming months based on bullish technical patterns.
Others remain cautious. User Astekz describes the current setup as “very bad” and warns that even if there’s a short-term 20% bounce, a steep drop could follow.
The next few weeks may reveal whether the whales are right—or just early.
