The recent Dogecoin (DOGE) price dip has triggered massive purchases by whales, signaling potential bullish sentiment. Market analyst Ali Martinez revealed in a tweet that whales added 750 million DOGE to their holdings during the downturn, reflecting strong confidence in a possible market rebound.
On Tuesday, Dogecoin’s price dropped to $0.2017, nearly losing the $0.2 psychological support level. This marked a significant downturn since hitting a 2025 high of $0.4335 three weeks ago. Consistent lower lows worsened the trend, with February 4 seeing DOGE retest the $0.2 level.
Whales Increase Holdings Despite Price Slump
Despite the price slump, whales holding 10 million to 100 million DOGE expanded their portfolios. They increased their holdings from 22.5 billion to 23.34 billion DOGE, adding 750 million tokens in a single day. The timing suggests whales viewed $0.2 as an ideal entry point, positioning themselves for the next rebound.
Related article: Dogecoin Falls 10% – But Whales Just Bought 460M DOGE!
The massive buying pressure briefly pushed DOGE back to $0.2885 on February 4 before retracement resumed. Higher-tier whales, holding 100 million to 1 billion DOGE, had sold 270 million tokens just days earlier when the price hovered around $0.3. These strategic exits allowed them to buy back at lower prices, hinting at a possible trend reversal.
Current Price Remains Discounted
At the time of writing, Dogecoin trades at $0.2597, a 22% discount from last week’s highs and 33% below its monthly peak. While the price has not fully recovered, analysts predict a potential turnaround.
Related article: Dogecoin Price Shock: What Triggered the 16% Drop?
Cas Abbé, a prominent analyst, noted the current price pattern mirrors Q3 2024, when a crash led to weeks of consolidation before a 300% surge. He anticipates a similar outcome this time, with Dogecoin potentially rallying over 4-6 weeks. Whales’ activity and market patterns suggest Dogecoin might be gearing up for another significant move.
