Dogecoin Whales Are on a Buying Frenzy – Is a Massive DOGE Rally Incoming?

Jakarta, Pintu News – According to leading crypto analyst Ali Martinez, Dogecoin whales are currently “betting on a breakout” in the near future.

In the past three months, Dogecoin’s price has plummeted by more than 70%, reflecting heavy selling pressure in the crypto market.

Despite the sharp decline, one group of investors still seems optimistic and predicts that DOGE will bounce back soon.

Dogecoin (DOGE) Big Investors Go on a Buying Spree

Dogecoin’s big investors or whales seem to be betting on a potential breakout, according to leading crypto analyst Ali Martinez.

Read also: Dogecoin Potential for a Parabolic Rally to $20 in the Long Term? Here’s Ali Martinez’s Bold Prediction

In a post on the X platform on Tuesday, March 18, Martinez revealed that these large investors are again making large purchases of DOGE.

Based on data from Santiment Feed, investors who own 1 million to 10 million DOGE have added 110 million DOGE to their portfolio in the past week.

At current prices, this amount is worth around $18.5 million. This purchase comes after the whales also bought 1.4 billion DOGE worth $224 million and 1.7 billion DOGE the previous week.

In addition to showing that large investors are still optimistic about Dogecoin’s price rise, this accumulation is also a bullish indication, signaling increased demand in the market.

Meanwhile, whale buying isn’t the only positive signal seen in Dogecoin’s current on-chain data.

Dogecoin Network Gets More Active

On Wednesday, March 19, crypto analyst Ali Martinez mentioned that the Dogecoin network is experiencing increased activity or “buzzing”. This statement refers to a recent spike in the number of active addresses on the Dogecoin network.

Data shows that the number of active addresses rose by more than 76%, from an average of 160,000 active addresses last week to 282,500 active addresses on Monday, March 17.

An increase in active addresses is usually considered a bullish signal, as it signals a growing interest in the network, potentially increasing demand for its native asset, DOGE.

Read also:3 Altcoin That Whales Secretly Loaded Up On Before the Bull Run Began!

Amid various positive signals from on-chain data, Martinez predicts that Dogecoin could potentially rebound and reach a new all-time high of $2. This prediction is based on the ascending channel pattern seen on the weekly candlestick chart.

However, for now, DOGE remains stagnant in line with the broader crypto market. Dogecoin’s price is currently at $0.1677, a slight decrease of 0.29% on the day.

This flat price movement is likely due to the wait-and-see attitude of traders awaiting the Federal Reserve’s interest rate decision, which is scheduled to be announced today.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• The Crypto Basic. Dogecoin Whales Betting on a Breakout Amid 110M DOGE Buyback. Accessed on March 20, 2025