Whale Acquires 5 Billion DOGE as Dogecoin Enters Prime Accumulation Phase

Dogecoin is currently in a crucial phase, as its price has fallen back to a zone where long-term core accumulation has historically influenced market cycles. Despite being well below its all-time high, this significant correction has brought Dogecoin into a price range that typically attracts the attention of long-term investors looking for value.

Current data from CoinGecko shows that Dogecoin is trading at $0.1494, with a 24-hour trading volume exceeding $1.25 billion. Analysts are closely monitoring its movements as the price tests a key support zone that has previously attracted buying interest during market downturns.

Analyst Crypto Patel has identified the current phase as the “primary accumulation zone” following a substantial correction from the December 2024 high and historical peak. The range between $0.13 and $0.09 is a critical bullish order block, ideal for strategic positioning on higher timeframes. Below this range, from $0.08 to $0.05, lies a historically strong demand zone that has consistently attracted long-term buyers during previous corrections.

Market observers are now looking to see if this zone can provide effective support as recent volatility stabilizes. Notably, whale addresses have purchased over 500 million Dogecoins (valued at around $80 million) during the recent price decline, indicating significant accumulation by informed large investors amidst fluctuating market sentiment.

From a technical standpoint, analysts are watching for a potential rounding bottom pattern forming on the weekly chart. The hope is for Dogecoin to stabilize within the bullish order zone mentioned earlier and gradually test key resistances established earlier in the cycle.

Another analyst, Bitcoinsensus, has highlighted the potential target range of $0.70 to $0.75 based on specific price patterns observed in historical market cycles. This forecast provides a technical reference for tracking long-term trends, although it remains unconfirmed.

Looking ahead, Crypto Patel has set tiered targets at $0.50, $1, and $2, contingent on Dogecoin maintaining the bullish order zone and progressively breaking through key technical levels on the weekly chart.

In summary, Dogecoin is currently at a critical juncture, marked by historical data, on-chain activity, and technical structures. The discreet accumulation by major holders, repeated testing of long-term accumulation zones, and a clear technical roadmap set the stage for the next phase of market development. As market sentiment stabilizes and liquidity patterns evolve, the completion of accumulation in the current zone will be a crucial indicator for future market movements.