Whales have been scooping up Dogecoin (DOGE) after the cryptocurrency’s recent price slump, leading many to speculate whether a 300% surge is on the horizon. According to market analyst Ali Martinez, a significant number of whales took advantage of a dip, purchasing 750 million DOGE tokens as the price dropped below key psychological levels.

Dogecoin saw a dramatic fall to $0.2017, a level dangerously close to the $0.2 mark it had held since November 2024. The dip marked a stark contrast to the $0.4335 high Dogecoin reached in early January. For weeks, the altcoin had been experiencing a steady downtrend, culminating in this latest price drop.

Whales Scoop Up 750 Million DOGE on Dip

The downtrend presented whales, particularly those holding between 10 million and 100 million DOGE tokens, with a prime buying opportunity. In just one day, these whales increased their holdings from approximately 22.5 billion DOGE to 23.34 billion DOGE, adding an impressive 750 million tokens to their portfolios. This surge in accumulation came after Dogecoin retested the $0.2 lows on February 4, with whales viewing the dip as an ideal entry point.

The immediate effect of this buying pressure saw Dogecoin briefly bounce back to $0.2885, though retracement followed soon after. Despite the dip, the whale accumulation signals strong market confidence, suggesting that the bears might be losing their grip on the altcoin.

Perfectly Timed Whale Moves

In an interesting twist, higher-tier whales, those holding between 100 million and 1 billion DOGE, had already made significant moves two days before the crash. These whales liquidated approximately 270 million tokens just before Dogecoin fell sharply, securing their profits while the coin was trading in the $0.3 range. Now, with Dogecoin priced much lower, they are strategically buying back at what they see as a discounted price.

Dogecoin’s Current Price: A Discount Opportunity?

Despite the whale buying frenzy, Dogecoin has yet to fully recover from its recent dip. At the time of writing, Dogecoin is priced at $0.2597, a 22% discount from its previous higher threshold and a 33% drop from its monthly high. This offers potential investors an opportunity to buy the coin at a discounted price while whale-backed accumulation points toward a future rebound.

Could a 300% Surge Be on the Horizon?

While Ali Martinez remains confident that the whale accumulation signals a potential turnaround for Dogecoin, he refrains from speculating on the exact target price in the short term. However, analyst Cas Abbé has drawn parallels to the Q3 2024 pattern, where a significant crash was followed by a period of consolidation before a major rally. Abbé suggests that Dogecoin could experience a similar pattern, with a parabolic rally potentially driving the price up by 300% within a 4 to 6-week window.

Abbé’s analysis suggests that the current market behavior is mirroring that of previous bullish cycles, where consolidation after a dip eventually led to explosive gains. If this scenario plays out, Dogecoin could see a significant surge, much like the massive gains witnessed late last year.

Final Thoughts

The accumulation of 750 million Dogecoin by whales during this dip demonstrates strong confidence in the market’s future performance. If the trend follows a similar path to previous rallies, the altcoin may be on the verge of a significant rebound. Traders and investors alike will be watching closely for signs of continued buying pressure, as any resurgence in Dogecoin’s price could see it reach new highs, possibly even a 300% increase as suggested by analysts.