Dogecoin Supertrend Flips Green on 3M Chart as Whales Amass Over 1B DOGE

Dogecoin whales procure over 1 billion Dogecoin tokens, coinciding with a bullish flip for the Supertrend indicator on the 3-month chart.

The latest accumulation spree comes amid a prevalent uncertainty across the broader crypto market. While the previous year, 2024, was bullish for the crypto market, with Dogecoin (DOGE) skyrocketing 252%, the last days of December 2024 featured market turbulence.

Dogecoin Whales Resume Accumulation

However, it appears the bulls might be retaking control of the market. Dogecoin has gained 7.44% this year, 2025. Now, in an interesting disclosure, Dogecoin whales appear to be jumping on the rebound effort.

According to a report from market veteran Ali Martinez, Dogecoin whales holding between 10 million and 1 billion tokens accumulated about 1.08 billion DOGE over a 24-hour period as of Jan. 2.

Whales bought over 1.08 billion #Dogecoin $DOGE in the last 24 hours! pic.twitter.com/Ow2j6I1MDV

— Ali (@ali_charts) January 2, 2025

This latest stunt has now brought the cumulative balance of these whales to 46.36 billion tokens, representing 31% of the Dogecoin supply.

Data from Santiment confirms that these whales distributed some of their holdings in early December 2024, as Dogecoin faced resistance at the $0.4844 mark and subsequently corrected. These Dogecoin whales, which held over 50 billion tokens at the time, embarked on a selloff spree until Dec. 27, 2024.

The market observed inactivity on their part until the new year, when they carried out the latest accumulation. This represents their first purchase campaign since Dec. 8 and demonstrates a renewal of optimism among these high-profile investors.

Martinez earlier highlighted a previous purchase of 300 million DOGE by these same whales. Meanwhile, The Crypto Basic has called attention to on-chain movements from several whale entities, with the latest one involving the transfer of 816 million DOGE.

Dogecoin Supertrend Flips Green

Interestingly, the recent accumulation from Dogecoin whales coincides with bullish technical developments around Dogecoin. Market analyst Crypto Surf recently revealed that the Supertrend indicator has flipped green on the Dogecoin 3-month chart.

For the uninitiated, the Supertrend indicator helps identify trends using price and volatility by plotting a line with the crypto asset’s Average True Range (ATR). Notably, prices above the line indicate an uptrend, while prices below signal a downtrend.

Dogecoin 3M Supertrend | Crypto Surf

For context, the Supertrend had been bearish since January 2022. Despite Dogecoin’s 87% rise in March 2024 and subsequent 161% uptick in November 2024, the indicator remained bearish.

It only recently flipped bullish at the start of January 2025, indicating that Dogecoin is now slipping into a bullish phase. The last time this indicator turned green on the 3M chart was in April 2017. This event led to a 5,587% increase to $0.01877 in January 2018 and another 3,837% rise to $0.7390 in May 2021.

If its signals prove true again, Dogecoin could be on track for another explosive run. Market experts have predicted price targets such as $4 for DOGE following a breakout. At press time, Dogecoin trades for $0.3403, up 3.16% in the last 24 hours.

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