Large-scale Dogecoin investors executed significant accumulation during mid-July price swings, amassing 130 million DOGE within a single 24-hour period. This aggressive buying spree elevated total whale holdings to approximately 50.79 billion DOGE during the token’s temporary price rally.
Exchange data reveals dominant outflows between July 18-22, with multiple transactions exceeding $20 million in value. The consistent movement of DOGE off exchanges strongly indicates whale accumulation behavior rather than profit-taking, reducing immediate sell pressure in the market.
Notably, whale holdings demonstrated remarkable stability despite Dogecoin’s price retracement from $0.287 to $0.21 between July 20-28. Collective whale balances hovered near 50.54 billion DOGE throughout this decline, showing no substantial sell-off activity despite the market downturn.
This accumulation phase followed earlier exchange inflows peaking at $50-60 million between July 11-17, coinciding with the preparatory stage of DOGE’s price surge. The pattern suggests sophisticated positioning by major investors ahead of market movements.
The persistent holding strategy during market dips underscores whale confidence in Dogecoin’s long-term value proposition. By maintaining positions through volatility, these influential stakeholders have effectively reduced short-term selling pressure while reinforcing market structure resilience.