Dogecoin Whales Spark Excitement with 140M Token Purchase
Dogecoin has captured the spotlight once again, as major investors, known as whales, have intensified their buying activity, acquiring a staggering 140 million DOGE tokens within 24 hours.
This surge in demand has sparked renewed optimism in the crypto market, with many speculating that the meme coin could be on the brink of a significant price rally.
Rising Whale Activity Fuels Dogecoin Hype
On-chain data shows that large-scale Dogecoin investors have significantly increased their holdings, driving market enthusiasm. Crypto analyst Ali Martinez highlighted this buying frenzy, which reflects growing interest in the token amid broader developments in the crypto space.
Adding to the excitement are rumors surrounding Elon Musk’s plans for a cryptocurrency-integrated payment system, X Money. Expected to launch this year, the platform is rumored to function similarly to WeChat and could potentially support cryptocurrencies like Dogecoin, Bitcoin, and stablecoins. While no official announcements have been made, this development has further bolstered confidence in DOGE’s potential.
READ MORE: Trader Turns $2K into $3.2M in Hours with Hyperfy Token Surge
Market Signals Point to Bullish Prospects
At present, Dogecoin is trading at approximately $0.3861, showing a modest 2% gain in the last 24 hours. The token experienced a trading range between $0.3763 and $0.3891, with whale activity contributing to the upward momentum.
Technical analysis suggests the possibility of a 30% price surge, as market indicators reveal that Dogecoin remains undervalued despite its remarkable recovery from September lows. A key metric, the market value-to-relative value z-score, supports this bullish outlook, encouraging traders to keep a close eye on the coin’s performance.
As the market anticipates a continuation of the current upward trend, Dogecoin’s growing popularity and strong market dynamics could pave the way for significant gains, particularly as 2025 approaches.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
