Dogecoin Whales Scoop Up 150M DOGE: Is a Price Surge Coming?

Key Insights:

• Whales bought 150M DOGE in 5 days, sending price fluctuations and dictating Dogecoin market trends.

• Dogecoin's short-term bullish trend is ascending with Fibonacci levels marking price zones.

• Large investor activity drives short-run volatility, as buying supports price advances and selling precipitates declines.

Dogecoin price action has seen extreme volatility over the last week, with major players significantly influencing the market.

Latest updates indicate whales purchased 150 million DOGE in the previous 5 days, leading to significant price swings. The correlation of the price of whales is still evident, as it indicates ongoing market activity.

Large Wallet Accumulation and Price Fluctuations

Ali Charts, a crypto analyst, examined Dogecoin's price action alongside big wallet activity. Data from February 17 to March 6, 2025, tracks DOGE holdings among wallets holding 10 million to 100 million tokens.

Early in the period being watched, price experienced a decline to a low on or about February 21. Large wallet holdings were not disrupted, and significant accumulation or distribution was absent.

Source: Ali Charts

Tracking the Dogecoins behaviour, beginning on February 23, market volatility increased with prices going in both directions. Between February 24 and February 27, whale holdings widened while the price remained stable.

The accumulation coincided with lower volatility, indicating a consolidation phase.  Even if Dogecoin's price dropped on February 28, big wallet balances were still substantial and showed an upward trend.

Early in March, Dogecoin had a price spike that peaked on March 2. During this time, whale holdings remained high before experiencing a sudden drop on March 3. This decline in holdings aligned with a sharp price drop, indicating selling pressure from large investors.

Afterward, Dogecoin rebounded on March 4 as whale accumulation resumed, leading to a stabilization phase by March 5. The price followed a similar pattern, consolidating around previous levels.

By March 6, both the price and whale holdings had risen again, reinforcing the link between accumulation trends and market movements.

Throughout the observed period, large wallet activity played a crucial role in shaping price trends, with buying phases aligning with stabilization or growth and selling phases leading to declines.

Long-Term Price Analysis and Market Structure

Ali Charts also investigated Dogecoin's price long-term trend between 2014 and 2025. Data, as given on a log scale, exists in the format of an uptrend parallel channel. The level of Fibonacci retracement and extension indicates important points of support and resistance in past trends.

Source: Ali Charts

Between 2015 and 2020, Dogecoin was in a long-term consolidation, trending in the lower half of the channel. Price action was very small during this time, with little volatility.

A breakout in early 2021, driven by growing retail interest and speculation, propelled Dogecoin to an all-time high of almost $0.70.

Dogecoin went through a period of adjustment after reaching this peak, returning to the 0.618 Fibonacci level, or roughly $0.16. This took over a year to happen, during which price steadied mid-channel.

Dogecoin moved laterally from 2022 until 2023 but remained above the 0.382 Fibonacci point, holding key support zones.

A rally in late 2023 and early 2024 pushed Dogecoin to the top of the channel. Gains were stopped by resistance at this level, and it retreated. As of the last available data, Dogecoin is trading at $0.19384, down 18.99% on the day. This followed a rejection near the 0.786 Fibonacci level, a solid resistance zone.

The long-term price structure direction in Dogecoin remains bullish, with increased highs and increased lows. The Fibonacci levels remain establishing potential price zones, and the 1.618 extension level at $3.20 remains a possible future target.

The parallel channel indicates that Dogecoin has remained steadily on an uptrend since its start, with the midline functioning as dynamic resistance and support.

A fall below the lower trendline might signal a change in market structure, heralding a bearish trend. On the other hand, a breakout above the upper trendline might validate more upside potential. Market conditions today indicate that Dogecoin is still within its long-term bullish paradigm despite near-term volatility.

Market Implications

The recent data reaffirms that big wallet activity greatly drives Dogecoin's market performance. Whale accumulation phases are synonymous with price consolidation or increase, and sell-off tends to activate price slumps.

This trend indicates the effect of large investors on liquidity and general market directions. The recent price volatility is consistent with overall cryptocurrency market principles, whereby large holders have a great deal of influence on short-term and long-term direction.

With Dogecoin continuing to trade within its ascending channel, direction going forward will be determined by key support and resistance levels. Whale activity remains significant to monitor for the possibility of price movement in the next few weeks.