cryptopotato.com
TL;DR
- Over the past week, whales spent more than $480 million to amass a significant amount of $DOGE tokens.
- Analysts like Altcoin Sherpa and KALEO foresee a strong rally, with targets including a new ATH and even $6.94; $DOGE’s RSI has cooled from overbought levels (80) to 54, potentially setting the stage for further gains.
They Know Something We Don’t?
The popular X user Ali Martinez revealed that big Dogecoin investors, specifically those holding between 100 million and one billion coins, purchased two billion $DOGE in the past seven days alone.
The USD equivalent of the scooped-up amount is almost $500 million, while those whales increased their total possessions to 27.6 billion tokens, or roughly 18.3% of the meme coin’s circulating supply.
$DOGE has performed quite well in the past week, with its price surging by 17% to the current $0.24. The massive accumulation from the large investors caused some to speculate that they might have inside information about an important development that could trigger additional gains.
“2B $DOGE in 7 days? Either they know something we don’t… or we’re about to find out the hard way,“ one X user commenting on the post said.
The potential approval of the first spot $DOGE ETF in the USA is expected to have a positive impact on the price, and one can hypothesize that this is what the whales are waiting for. According to Polymarket, the odds for a green light before the end of 2025 stand at 61% which, in fact, marks a serious decline from the 79% witnessed on August 10.
The Next Targets
The crypto community seems quite optimistic about the OG meme coin, envisioning an impressive rally in the short term. X user Altcoin Sherpa believes “the environment is finally pretty good for it to have a run soon.“
The analyst predicted that $DOGE would surge to a new all-time high once bitcoin ($BTC) does so. It is important to note that a few hours ago, the biggest cryptocurrency soared to a fresh record of over $124,000, so it will be interesting to see whether the OG meme coin will follow its steps.
KALEO is also very bullish, arguing the $DOGE/$BTC chart looks like “it’s ready to make the same type of move” witnessed in January of 2021. The analyst thinks it’s only a matter of time before companies start buying billions of dollars of the meme coin, setting $6.9420 as a target.
Meanwhile, $DOGE’s RSI (Relative Strength Index) is now longer in bearish territory, slipping from over 80 on August 9 to the current 54. Typically, readings beyond 70 suggest the asset is overbought and could be headed for a pullback, while anything below 30 can be interpreted as a bullish signal.
