Dogecoin Sees Modest Gain as Whale Holdings Surge to 24.33 Billion DOGE

Jakarta, Pintu News – The Dogecoin price has experienced quite volatile movements throughout this week.

In the last seven days, the meme coin had risen by almost 7%, but all of those gains were erased by a nearly 7% drop on October 8. This correction is in line with the overall cooling of the crypto market, although Dogecoin’s movements show a slightly different pattern.

In terms of charts and on-chain data, there is a combination of accumulation and selling that creates a mixed picture. While short-term pressure is still present, some hidden signals point to a potential rebound – although there is still one risk factor to watch out for.

Dogecoin Price Rises 1.08% in 24 Hours

On October 9, 2025, Dogecoin’s price rose by 1.08% over the past 24 hours, trading at $0.2490, or roughly IDR 4,122. During the same period, DOGE fluctuated within a range of IDR 4,059 to IDR 4,324.

At the time of writing, Dogecoin’s market capitalization is approximately IDR 620.07 trillion, with a 24-hour trading volume of around IDR 47.65 trillion.

Read also: Bitcoin Price Holds at $121,000: $360M Whale Transfer Sparks Rotation Toward Ethereum?

Whale Adds DOGE, but Exchange Balance Shows Warning

Dogecoin whale activity has quietly started to show a positive trend. Wallets holding between 10 million and 100 million DOGE increased their holdings from 24.20 billion DOGE on October 2 to 24.33 billion DOGE – an addition of around 130 million DOGE or the equivalent of approximately $32 million based on the current Dogecoin price.

Consistent buying from medium-sized whales like this usually supports prices, especially amidst volatile market movements.

However, the optimistic signals were overshadowed by one important indicator: DOGE balances on exchanges. Data from Glassnode shows that the percentage of DOGE held on exchanges now stands at 17.7%, close to the multi-year high recorded on September 20.

Historically, exchange balance peaks like this have often been followed by large corrections. For example, when the exchange balance reached 15.57% on April 1, 2024, the Dogecoin price dropped by around 55% in the following months. A similar pattern occurred after the balance reached 17.1% on December 9, 2024, which was followed by a decline of around 65% until April 2025.

This high number indicates that a large portion of DOGE’s supply is still on exchanges – meaning that the coin is easy to sell at any time. So while whales are accumulating DOGE, some market participants appear ready to take profits or exit their positions.

This contrast between whale accumulation and high exchange balances reflects the tug-of-war between confidence and caution. It is this factor that keeps the downside potential of Dogecoin’s price open, although signs of weakness are starting to diminish.

Read also: How Likely Is a Drop for Dogecoin (DOGE)? Latest Indicators & Insights

Dogecoin Price Chart Shows Signs of Correction Fatigue

Dogecoin price chart in the 4-hour time frame (8/10) shows that the price is still moving above the ascending support line inside the rising wedge pattern. The recent price bounce off the $0.246 level indicates that buyers are still defending the area as a key resistance boundary.

Between September 30 and October 7, Dogecoin recorded a higher low on the price chart, while the Relative Strength Index (RSI) indicator formed a lower low. This pattern is known as a hidden bullish divergence – a signal that selling pressure is starting to weaken and the uptrend could potentially continue.

If the support area around $0.246 holds, the Dogecoin price has a chance to bounce to $0.257, then $0.270, and even $0.278. However, if this support fails to hold and the 4-hour candle closes below the lower trendline – especially if the exchange balance risk starts to materialize – then a decline towards $0.234 or even $0.226 could occur.

It should be noted that in the 4-hour time frame, Dogecoin’s price structure still shows bearish tendencies. Even a small negative trigger could push the price down further.

For now, the data suggests that the market is cooling down, not crashing. Whether or not Dogecoin’s correction phase is truly over will largely depend on how long the whales continue their buying spree before retail traders start to follow suit.

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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:

• BeInCrypto. Dogecoin (DOGE) Price Pullback May Be Ending, but One Risk Remains. Accessed on October 9, 2025