DOGE Price Moves as Dogecoin Whales Go on Buying Spree

TL;DR

The cryptocurrency market experienced a resurgence Friday night, with significant gains across many assets, spearheaded by Bitcoin. Dogecoin also saw substantial growth, following a large-scale accumulation by DOGE whales.

Dogecoin previously benefited significantly from Donald Trump's US election victory, surging by triple-digit percentages within a couple of months to a multi-year high near $0.5. Despite several attempts, it failed to surpass this level and subsequently experienced a sharp decline during recent market corrections. Earlier this week, it reached a five-month low of $0.13 amidst escalating trade tensions.

However, DOGE rebounded strongly from this drop, exceeding $0.165 yesterday. While it briefly retreated below $0.15, it currently trades above $0.16 after a 6% daily increase.

This price surge follows substantial whale accumulation. These large investors acquired over 80 million DOGE within 24 hours. While not the largest single-day accumulation ever recorded, it indicates a bullish trend during a period of price correction. Increased whale purchases reduce the supply available for immediate selling, potentially influencing smaller investors who often follow larger market players.

Whales bought over 80 million #Dogecoin $DOGE in the last 24 hours!
— Ali (@ali_charts) April 11, 2025

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