Dogecoin (DOGE) whales are making headlines again, with notable crypto analyst Ali Martinez reporting a massive accumulation spree. Martinez stated in a recent post on X (Twitter) that whales have purchased about 1.08 billion DOGE in the last 24 hours.Â
This aggressive buying activity has sparked renewed interest in Dogecoin’s prospects, hinting at the potential for another major rally in 2025.
Whales Show Unwavering Interest
While the broader crypto markets remained relatively subdued during the holiday season, Dogecoin whales have been unusually active. These large-scale investors, often referred to as “whales,” are known for their ability to influence market trends with their significant holdings.
Data indicates that a subset of investors holding between 100 million and 1 billion DOGE collectively added 300 million tokens in a single day.
This accumulation aligns with a long-term bullish sentiment surrounding Dogecoin. The meme coin has gained a reputation for delivering unexpected, dramatic price surges in the past, often fueled by its passionate community and high-profile endorsements.
Historical Patterns Suggest a Potential Rally
Ali Martinez highlighted historical trends that could offer clues about Dogecoin’s potential trajectory. In 2017, DOGE experienced a 212% rise followed by a 40% correction, only to later skyrocket by 5,000%.
A similar pattern unfolded in 2021 when the coin surged 476%, dropped by 56%, and then rallied an astounding 12,000%.
In 2024, Dogecoin has already seen a 440% rise, followed by a 46% retracement. Martinez believes these movements might signal the start of another explosive rally, should history repeat itself.
With whales continuing their accumulation spree, the stage could be set for a significant price breakout in the months ahead.
Current Market Performance
As of now, Dogecoin is trading at $0.3387, reflecting a modest 1% increase in the last 24 hours. Its global market capitalization stands at $50.06 billion, solidifying its position as one of the leading cryptocurrencies.
However, 24-hour trading volume has dipped by 5%, suggesting a momentary slowdown in market activity.
Several factors could explain the heightened interest among whales. One possibility is the anticipation of broader adoption and potential use cases for Dogecoin, particularly in payments and microtransactions.
Additionally, the meme coin’s resilience and ability to generate outsized returns during market rallies continue to attract speculative investors.
For Dogecoin enthusiasts, the ongoing whale activity is a hopeful sign of what might come next. If the meme coin’s past is any indication, 2025 could bring another dramatic chapter to its story, further cementing its place as a favourite in the cryptocurrency world.
Also Read: Crypto Analysts Ali Martinez Goes Bullish On XRP, Predicts $11 For 2025