Dogecoin Price Recovery: Whales Buy $1.4B DOGE – 30% Surge Imminent?

Dogecoin’s value has fallen 70% from its $0.48 high in December 2024, yet its largest holders are doubling down on their investments. On-chain data shows that wallets containing at least 1 million DOGE have increased by 1.24% since February. This accumulation pattern indicates that major investors consider DOGE undervalued and anticipate a possible price increase in the near term.

Despite fluctuating Dogecoin market performance, the cryptocurrency’s network activity has surged, with active addresses hitting a four-month peak. If this rise in engagement isn’t solely the result of widespread selling and signals true user adoption, it might create a strong foundation for a Dogecoin price recovery. Some analysts highlight previous accumulation events that have historically preceded substantial DOGE rallies, predicting a possible price surge exceeding 30% soon.

Smart Money Signals a Reversal

The number of large DOGE holders is increasing, a pattern that has previously preceded every Dogecoin price recovery. Records indicate that in early February, 62 new wallets holding a minimum of 1 million DOGE were created, a growth of 1.24%. On March 11, major investors purchased 1.4 billion DOGE in a single day, creating speculation about an upcoming price hike.

Graph 1 – Provided by Santiment, March 18, 2025.

Historically, whale accumulations have caused supply crunches. When these major purchases tighten liquidity, prices rise, reflecting higher demand than limited supply. This scenario resembles past Dogecoin bull cycles, which followed substantial accumulation by significant DOGE holders.

On-Chain Indicators Flash Bullish Signals

Dogecoin’s falling price has led to oversold conditions, a development that could signal an imminent reversal. DOGE is now testing a multi-year ascending trendline support level around $0.13. Historically, the price has rebounded sharply from this support, and the nearby 200-week EMA strengthens the possibility of a price bounce.

Moreover, the Stochastic RSI indicator, used to spot when an asset is overbought or oversold, has shown a bullish crossover within this oversold area. Prior similar signals preceded major price recoveries; for example, in 2024, DOGE rallied by 400%, and in 2023, it rose by 88%. A repeat of these patterns could bring Dogecoin a near-term 30% rally, potentially leading it to surpass crucial resistance near $0.22.

Institutional Interest and Market Sentiment

Beyond retail investors and large holders, the broader market sentiment surrounding Dogecoin is shifting. Analysts suggest that stable conditions in the cryptocurrency market could lead to another substantial price increase for DOGE. Demand might increase if a Dogecoin exchange-traded fund (ETF) receives approval within the U.S. regulatory framework. Institutional money could then find its way into the DOGE ecosystem.

Moreover, active DOGE addresses now exceed 150,000 per day—figures unseen since mid-November 2024—which supports this bullish trend. These figures indicate increasing user engagement and suggest greater adoption of Dogecoin may be imminent. This means Dogecoin could establish itself as a long-term, valuable digital asset. Ongoing interest by large entities, plus broader cryptocurrency developments, could also lead to sustained DOGE growth.

A Perfect Setup for a Comeback?

The Dogecoin market performance, together with strong on-chain signals, hints at a substantial rally taking place. Millionaire investors increase their holdings, the network shows increased activity, and the documented actions of whales point to smart money preparing for a Dogecoin price recovery.

Graph 2 – Provided by TradingView, March 18, 2025.

While risks remain and further drops can occur if support breaks down, bullish technical signs alongside increasing adoption of Dogecoin offer a promising setup for DOGE growth. If past trends hold, Dogecoin may soon recover lost value, thus benefiting those who bought during the recent price decrease.