1-8-2025 – Large-scale investors have purchased 310 million Dogecoin tokens over the past 24 hours, coinciding with a technical buy signal that suggests the meme cryptocurrency could be positioned for a price recovery after recent weakness.
On-chain data reveals the substantial whale accumulation occurred while Dogecoin trades at $0.223, representing a 5.2% decline over the past week but showing a 1.5% gain in the last day. The timing of these purchases during a period of price consolidation has drawn attention from market analysts, who view coordinated whale activity as a potential precursor to upward price movement. Crypto analyst Ali highlighted the accumulation pattern, noting that similar whale buying phases have historically preceded rallies in DOGE.
Whales bought 310 million Dogecoin $DOGE in the last 24 hours! pic.twitter.com/3ZHNfubt65
— Ali (@ali_charts) July 31, 2025
Reinforcing the bullish case, Dogecoin’s daily chart has generated a buy signal from the TD Sequential indicator, a technical analysis tool that identifies potential trend reversals. The completion of a nine-count down setup typically suggests either a trend reversal or short-term bounce is imminent, providing additional support for the whale accumulation thesis. This technical development comes as Dogecoin maintains its position as the eighth-largest cryptocurrency by market capitalization at $33.5 billion.
Trading activity remains robust, with over $2.1 billion in volume recorded over the past 24 hours, indicating sustained interest from both retail and institutional participants. If whale buying pressure continues, technical analysts expect Dogecoin could challenge resistance levels near $0.24 and $0.26, potentially setting up a retest of previous local highs. However, the broader altcoin market faces headwinds as Bitcoin dominance trends lower, creating uncertainty around sustained momentum.
