Crypto whales have aggressively accumulated Dogecoin (DOGE ($0.26)) over the past two days, according to data from Santiment. Cryptocurrency analyst Ali Martinez highlighted that these large investors have acquired 110 million DOGE in just 48 hours. This massive accumulation has sparked speculation about a potential bullish trend for the meme coin.
An AI-powered crypto insights account, Alva, responded to Martinez’s post, suggesting that this level of accumulation signals growing market confidence. The increased demand for DOGE could reduce selling pressure and support a price surge.
Related article: Analyst Sees Dogecoin Gaining Momentum for a Massive Surge
Whale Moves 100 Million DOGE to Binance
Meanwhile, blockchain tracking platform Whale Alert reported another major transaction. On February 20, an anonymous whale transferred 100 million DOGE—worth approximately $25.42 million—to Binance, the world’s largest cryptocurrency exchange.
100,000,000 #DOGE (25,421,462 USD) transferred from unknown wallet to #Binancehttps://t.co/eiecOEVUsN
— Whale Alert (@whale_alert) February 20, 2025
This transaction added to the growing whale activity around Dogecoin, raising questions about whether a price movement could follow.
Wallet Still Holds Massive DOGE Reserves
Despite sending 100 million DOGE to Binance, the whale’s wallet remains heavily loaded. Data from Blockchair revealed that the same wallet still holds 139.9 million DOGE, valued at around $35.76 million.
Related article: Dogecoin Eyes $9 Breakout: 3,310% Surge on the Horizon?
This suggests that large investors continue to maintain significant holdings in Dogecoin, reinforcing the speculation of a potential market shift. Adding to the intrigue, the Dogecoin community observed an unexpected move from Elon Musk, the cryptocurrency’s most influential supporter.
While details remain unclear, any action from Musk often impacts DOGE’s price. With significant whale activity and Musk’s involvement, investors now anticipate the next market development.
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