Dogecoin (DOGE) Price Analysis: Whales Reveal Hand Through 160M Token Purchase

ction data from blockchain analytics platforms reveals a series of coordinated purchases by addresses holding large amounts of Dogecoin. These movements occurred primarily during a 48-hour weekend period, suggesting a planned accumulation strategy by established market participants.
The timing of these purchases coincides with Dogecoin’s recent price movements, which have seen the cryptocurrency trade between $0.28 and $0.44 over the past month. Market data indicates that similar whale activities in the past have preceded notable price movements.
Addresses holding more than 1 million DOGE have been steadily increasing their positions since mid-November, reflecting similar movements observed during previous market cycles, particularly in 2021 when Dogecoin reached its all-time high.
There has been a notable increase in transactions exceeding $100,000, with several transfers surpassing the $1 million threshold. This surge in high-value movements represents a significant change from the relatively quiet trading patterns observed in early November.
Dogecoin has maintained support above $0.35 during this accumulation period, with resistance at $0.44. The majority of purchases originated from addresses with established holding patterns, indicating a calculated positioning strategy rather than speculative trading.
Trading volumes have increased by 45% compared to the monthly average, suggesting broader market participation beyond whale activity. The majority of these purchases have been executed through multiple exchanges, indicating a strategy to maintain price stability during accumulation.
A net outflow of DOGE from major trading platforms suggests that purchased tokens are being moved to private wallets, indicating longer-term holding intentions rather than short-term trading strategies.
Smaller holders, those with between 100,000 and 1 million DOGE, have also increased their positions, though at a more modest pace than the whale-sized movements. Recent blockchain data shows continued accumulation as of December 4, with large transfers moving DOGE from exchange wallets to private addresses, suggesting an ongoing accumulation phase.