Whale Accumulates Over 1 Billion DOGE as Dogecoin's 3-Month Chart Flashes Green

Dogecoin, launched on December 6, 2013, has once again become the focus of attention as whales accumulate over 1 billion DOGE while this cryptocurrency awaits a price increase this year. This continuous accumulation aligns with a significant technical change. The Supertrend indicator on Dogecoin's three-month chart has turned green, indicating a new upward trajectory for the meme coin endorsed by Elon Musk. Big Players Accumulate Dogecoin According to data from a famous market expert, Ali Martinez, whales holding from 10 million to 1 billion DOGE have accumulated about 1.08 billion tokens on January 2, 2025. It's worth noting that this impressive DOGE token accumulation comes after a long period of silence, marking their first purchase since December 8, 2024. Current data shows that whales hold 46.36 billion DOGE. This amount accounts for 31% of the total DOGE supply, which is over 147.45 billion. This accumulation occurred after a distribution phase in early December 2024, when whales dumped their holdings when Dogecoin faced resistance at $0.4844.

The recent increase in the accumulation of Dogecoin by large investors signals a strategic move that could take advantage of the cryptocurrency's revival at the beginning of the year. Notably, DOGE has demonstrated a 7.44% increase in 2025, indicating a potential shift in market sentiment towards a price uptrend after a period of volatility at the end of 2024. DOGE Price Signal Rises on 3M Chart Contributing to the increasing enthusiasm, the Supertrend indicator on Dogecoin's three-month chart has turned green for the first time since January 2022. It is worth noting that Supertrend is a widely used technical tool to track price trends and fluctuations. The price above the Supertrend line signals an uptrend, while the price below the Supertrend line signals a downtrend. While Dogecoin saw significant price increases in 2024, notably a 87% increase in March and a 161% increase in November, the Supertrend indicator has consistently maintained a downward trend throughout the year. However, the recent price increase convergence of Supertrend indicates the possibility of a change in the market trend, promoting optimism about a strong price increase phase, reminiscent of previous price increase cycles. Historical data shows that this technical change can be significant. The last bullish reversal on Dogecoin's three-month Supertrend chart occurred in April 2017. This event followed a notable price increase. By January 2018, digital assets had surged 5,587%. This momentum continued, leading to the next price surge of 3,837%, reaching a peak at $0.7390 in May 2021. At the time of writing, Dogecoin's DOGE has started 2025 with strong momentum. Notably, DOGE is changing hands at $0.3395 after a 0.74% increase in the past 24 hours. Similarly, this digital asset has risen 4.84% in the past week. In addition, the current market capitalization of digital assets is $50.06 billion, up 0.73%, and this digital asset has recorded a decrease of 19.09% in the past month. It is also worth mentioning that the 24-hour trading volume of DOGE has decreased by 5.81%, stopping at $2.46 billion. DYOR! #Write2Earn #Write&Earn $BTC