Date: Sunday, March 09, 2025 | 05:05 PM GMT
In the cryptocurrency market, the top memecoin Dogecoin (DOGE) has been in a sharp downtrend following its impressive rally in November 2024, when it reached a high of $0.48 on December 8. However, over the last 90 days, DOGE has faced a massive 60% correction, bringing its price down to $0.17.
This major sharp decline has shaken investor confidence, but recent whale activity and historical price patterns suggest that a bullish reversal could be on the horizon.
Whale Accumulation
As retail investors panic over DOGE’s price drop, whales are taking a different approach. According to crypto analyst Ali Martinez, some of the largest Dogecoin holders—those with over 1 billion DOGE—have accumulated a staggering 1.7 billion DOGE in the past 72 hours.
This aggressive accumulation by large investors suggests that they view the current price levels as an attractive buying opportunity. Historically, when whales start accumulating, it often precedes a price rebound as demand outpaces supply.
Key Pattern Point to a Rally
A closer look at DOGE’s historical price action reveals a repeating cycle: each major correction has led to a strong rally.
On the latest analysis of @_CryptoSurf, white circles highlight past corrections, all of which were followed by significant upward moves. Each time Dogecoin dipped into the green accumulation zone, it later experienced a powerful surge, marking the beginning of a new uptrend.
If this pattern continues, DOGE could be in the early stages of another major rally, potentially pushing its price back toward all-time highs.
Final Thoughts
Despite recent bearish sentiment, the combination of whale accumulation and historical cycle trends all point to a possible bullish turnaround for Dogecoin. If the market structure holds and demand increases, DOGE could soon enter a new rally phase.
However, investors should remain cautious and conduct their own research before making any trading decisions.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before making investment decisions.