Crypto Whales Are Accumulating — Could Dogecoin Be Heading for a 60% Surge?

Jakarta, Pintu News – Amid the broader crypto market rally, Dogecoin (DOGE) briefly recorded a significant gain, jumping another 7% on October 2 to $0.2581 and extending its weekly gain to more than 12%.

In addition, the daily trading volume also surged past $3.0 billion, indicating a growing positive sentiment in the market. Market experts believe that this could be the start of a major rally that coincides with the increased activity of DOGE whales.

Dogecoin Price could Rise Another 60% from Where it is Now

The Dogecoin price is showing a strong trend reversal after forming a solid base at $0.22. Crypto trader Daan Crypto Trades highlighted that DOGE managed to hold its key support level, forming a higher low similar to the patterns seen in a number of other major cryptocurrencies.

Read also: Dogecoin Climbs 2% Today as Analysts Eye a Potential Run Toward $1.60 — What’s Driving the Optimism?

The analyst noted that since hitting bottom in April, DOGE has been in an uptrend that tends to be volatile. Even so, the chart shows constructive signs.

As seen in the chart, if DOGE continues to form a pattern of higher highs and higher lows, then a larger price movement towards $0.43 could occur, which means a potential upside of about 60% from the current level.

Another market analyst, EtherNasyonal, identified an ascending megaphone pattern on the DOGE chart-a technical structure that usually precedes big moves. According to this analyst, Dogecoin is currently trading within this widening pattern, which could potentially take the price to near the $1 mark.

His analysis also highlights Dogecoin’s price behavior since 2023, which shows repeated accumulation phases that are then followed by sharp price spikes.

DOGE Whale Accumulation Getting Stronger

On-chain data shows that large Dogecoin holders(whales) have continued to accumulate gradually during the recent market correction.

Read also: Altcoin Watch: 3 Tokens Capturing Attention Amid Binance Listing Speculation

According to a report from Santiment, wallets holding between 100,000 to 1 million DOGE, as well as those with between 10 million to 100 million DOGE, added around 450 million tokens by the end of September.

This activity indicates that large investors are taking advantage of low prices to buy more, even as mid-sized holders reduce their holdings.

On the other hand, sentiment in the derivatives market has also undergone significant changes. Data from CoinGlass shows that the long-to-short ratio for DOGE has risen above the 1 mark. This means that more traders are now going long (anticipating price increases) than short, reflecting expectations of further upward momentum.

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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. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinspeaker. Dogecoin Whale Activity Triggers 60% Rally. Accessed on October 3, 2025