Whales Acquire 160 Million DOGE During Price Correction

Dogecoin whales have purchased a significant amount of cryptocurrency, acquiring approximately 160 million DOGE. These large holders are taking advantage of the recent price decline to accumulate DOGE at a lower value.

The increased confidence in Dogecoin stems from a notable price surge, with the token reaching a multi-year high of approximately $0.4316 on November 13th before experiencing a pullback.

As the price has declined, whale accumulation has intensified. Wallets holding between 10 million and 100 million DOGE have added a combined 160 million DOGE, bringing their total holdings to nearly 19.91 billion DOGE.

These recent purchases, valued at $56 million, represent a 23% discount compared to their value just a few days prior, when they would have cost around $69 million.

Additionally, one whale sold 10.6 million SPX tokens for a profit of $920,000 and utilized $6.2 million from these sales to purchase 13.95 million DOGE.

The positive sentiment surrounding Dogecoin indicates that investors anticipate further price increases. Analysts view the current price correction as beneficial, potentially leading to substantial future gains, similar to previous bull cycles.

Predictions for Dogecoin's price range from surpassing its all-time high of $0.7376 to targets of $1, $2.4, $10, and even $23.

Currently, Dogecoin is trading at $0.3783, reflecting substantial gains of 88% over the past week and 195% over the past month.