Large-scale Whale Purchases Prop Up Dogecoin: 310 Million DOGE Acquired Within a Day
In the world of cryptocurrency, Dogecoin (DOGE) is currently experiencing a surge in bullish sentiment. This optimistic outlook is driven by several converging factors, including large holder accumulation, recovery from price dips, favorable technical chart patterns, and speculation around potential ETF approvals.
Large holder ("whale") activity has been particularly noteworthy. Wallets holding between 1 million and 100 million DOGE have shown a 112% increase in netflows recently, indicating aggressive accumulation and institutional confidence building up after price dips below $0.145 in mid-2025.
The recovery of Dogecoin from a June 2025 low around $0.145 to above $0.17 and subsequent consolidation with expectations for a breakout above $0.25, signaling potential for further upside, is another key factor. This rebound after dips tends to attract more buyers.
Technical chart patterns also support higher price targets. Dogecoin is breaking out of a bullish megaphone pattern, with technical momentum supporting targets of $0.30 by late August and potential moves as high as $1.50 by the end of 2025 if the bullish structure holds. Short-term technicals show DOGE as undervalued with cycle patterns pointing to a rally.
The potential ETF approval has drawn more attention to Dogecoin across the market. Several asset managers, such as Grayscale and 21Shares, have applied for Dogecoin ETFs, and market participants anticipate that approval later in 2025 could inject substantial institutional capital, further fueling the bullish case and increasing liquidity and adoption.
Price predictions echo this optimistic outlook, with forecasts suggesting a possible rise to $0.308 by late August, a potential rise between $0.34 and $0.55 depending on utility upgrades and market conditions, and the possibility of reaching and surpassing $1 before bearish resistance by the end of 2025. Beyond 2025, if the bullish structure and whale accumulation continue, Dogecoin could potentially reach up to $1.50.
Recent additions to large Dogecoin wallets indicate that multiple wallet sizes, not just the top holders, are active while the price remains below recent highs. Analyst Joe Swanson has identified a double bottom pattern on the Dogecoin chart near the $0.13 to $0.14 range. The Golden Cross, a trend shift indicator, has also been observed, occurring when the 50-day moving average moves above the 200-day average.
At the time of writing, Dogecoin is priced at $0.223, having had minor gains in the past day but a 9% decrease over the last week. Polymarket data shows a 75% chance of approval for a Dogecoin ETF by the end of 2025.
In summary, the strong accumulation of large holders, favorable technical signals, rebound from dips, and institutional product potential underlie the current optimistic forecasts for Dogecoin through 2025. As these factors continue to align, Dogecoin investors may find themselves looking forward to a promising future for this popular meme-based cryptocurrency.
- Institutional investors' confidence in Dogecoin (DOGE) is evidenced by the significant increase in netflows in wallets holding between 1 million and 100 million DOGE, which demonstrates aggressive accumulation after price dips.
- The bullish megaphone pattern on the Dogecoin chart and the Golden Cross trend shift indicator observed recently provide technical support for higher price targets, potentially reaching $0.30 by late August and beyond $1.50 by the end of 2025.
- The forthcoming potential approval of Dogecoin ETFs, as several asset managers have applied for them, could potentially inject substantial institutional capital, increase liquidity and adoption, and fuel the persistent bullish sentiment in the cryptocurrency finance market.
