Dogecoin

Pepe

<ul> 
 <li>Despite the growing popularity of memecoins, Dogecoin (DOGE) has been trading within a range-bound.</li> 
 <li>Dogecoin whales have resumed accumulating the token, with addresses holding between 100 million and 1 billion DOGE adding over 200 million tokens since May 30.</li> 
 <li>Historical data suggests that the ongoing price correction is part of Dogecoin’s usual behavior before a massive bull run.</li> 
</ul> 
<a href="https://thenewscrypto.com/?s=Dogecoin" target="_blank" rel="noreferrer noopener">Dogecoin</a> (DOGE) has been trading within a range-bound pattern. The 24-hour trading volume has dipped below the billion-dollar mark, indicating a shift in momentum away from the token, with Pepe currently holding the title of the most traded meme coin. 
However, market analysts believe that the dynamics for the <a href="https://thenewscrypto.com/?s=DOGE" target="_blank" rel="noreferrer noopener">DOGE</a> price are poised to change in the near future, as the token approaches the end of its accumulation phase. 
Historically, the activity of whale investors has had a profound impact on Dogecoin’s price in the long run. When accumulation increases, the likelihood of a strong upward trend also rises, although a decrease in accumulation does not necessarily signal a bearish trend. 
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</figure> 
<h2 class="wp-block-heading" id="h-dogecoin-whales-resume-accumulation">Dogecoin whales resume accumulation</h2> 
A recent Santiment chart shared by renowned analyst <a href="https://x.com/ali_charts/status/1797903639346081913" target="_blank" rel="noreferrer noopener">ALI</a> reveals that Dogecoin whales have resumed their accumulation of the token. 
The chart depicts the number of addresses holding between 100 million and 1 billion DOGE, which have collectively added over 200 million tokens to their holdings since May 30. 
These whales currently possess DOGE worth more than $31 billion, representing a substantial portion of the total tokens in circulation. Despite this accumulation, the price has remained relatively stable, suggesting that the token may be gearing up for a significant move in the near future. 
According to the analyst, the current price correction is a characteristic behavior of Dogecoin before embarking on a massive bull run, as evidenced by its performance in 2017 and 2021. 
In 2017, the DOGE price broke out of a descending triangle pattern, followed by a 40% retracement and a subsequent bull run that exceeded 900%. Similarly, in 2021, the token underwent a retracement of over 50%, which ultimately led to an astounding rally of more than 12,000%.

Dogecoin (DOGE) Whales Accumulate Over 200 Million Tokens, Signaling a Bull Run

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