Dogecoin Whales Keep Buying but DOGE Price Keeps Dropping

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Why Are Dogecoin Whales Hoarding Like It’s the Last Slice of Pizza? 🍕🐶

TL:DR;

  • So, Dogecoin whales are on a shopping spree, but the price is still doing its best impression of a sad puppy. 🐕💔
  • Analysts are still optimistic, claiming DOGE has hit rock bottom—like, “I just dropped my ice cream” level of low—and will bounce back soon. 🙌

Remember when DOGE was strutting around like it owned the place at over $0.4? Yeah, that was back on January 21, when it had a brief moment of glory before plummeting faster than my self-esteem after a bad haircut. 💇‍♀️

Then came the Monday morning market crash, where all crypto assets decided to take a collective nap, and DOGE was the one that forgot to set its alarm. It dropped to $0.2—talk about a two-month low! 😱

But wait! The market started to recover, and DOGE flirted with $0.3 on Tuesday, only to be rejected like a bad date. Now it’s back under $0.25, which is a 25% decline for the week. Ouch! 😬

Despite this rollercoaster, Dogecoin whales are still buying like it’s Black Friday. They scooped up over 750 million DOGE during the crash and added another 100 million in just 24 hours. I mean, who needs a savings account when you can just hoard meme coins? 💰

Whales have accumulated another 100 million #Dogecoin $DOGE in the last 24 hours, signaling growing confidence and demand!

— Ali (@ali_charts) February 7, 2025

But here’s the kicker: none of this whale shopping spree has translated into a price rebound yet. Some analysts are still holding onto hope, citing DOGE’s historical performance like it’s a family heirloom. 🏺

Trader Tardigrade thinks DOGE is just copying its 2017 moves and has hit the bottom, which means it’s about to shoot up like a rocket. 🚀

KrissPax, on the other hand, acknowledges the correction but says it’s just part of the cycle—like that one friend who always shows up late to brunch. He insists these dips are prime time to buy more and prepare for the next big thing. 🥂

Big pullbacks in the Dogecoin price happen EVERY cycle. They shake out weak hands and completely sour market sentiment. Strong rebounds follow in overall bull markets. These pullbacks are excellent times to buy more on dips and prepare for what’s coming. $DOGE

— KrissPax (@krisspax) February 7, 2025

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2025-02-08 12:30