Dogecoin has entered what is described as a major accumulation phase of its market cycle, driven by price recovery and increased token buying, according to data shared by analyst TOP DOGE. Analytics indicate that the meme coin is undergoing one of its largest accumulation periods.
Whale Accumulation and Market Range
Data shared by the analyst shows that large market participants, or whales, accumulated over 376 million DOGE tokens within a 24-hour period. This activity coincides with DOGE trading in a tight consolidation range between $0.069 and $0.078, with the asset holding above this key zone as large investors quietly amass tokens for long-term holding.
The accumulation coincides with DOGE testing its 200-day moving average of $0.0718, a historical zone that can signal building buying pressure. The report notes that these tokens are being acquired from retail investors who exited positions during a recent price slump. This purchasing activity is concentrated among private large crypto customers rather than through US spot DOGE ETFs.
Price Performance and Rebound
Dogecoin recently traded at $0.09269, marking gains of 31.0% over the past week and 32.6% over the past 30 days amid a wider crypto market resurgence. The withdrawal of 376 million DOGE tokens from exchanges in a single day reflects a reduction in exchange supply as holders move assets into cold wallets.
As the token approaches the psychological $0.1 level, increased volatility is expected. Analysts point to the ongoing accumulation trend by large investors as a key driver behind the asset's recent price comeback and demand.
