Dogecoin (DOGE) whales accumulated 470 million tokens over the past several days, according to on-chain data highlighted by analyst Ali Martinez, as the memecoin reclaimed the $0.10 price level with a more-than-5% gain in the last 24 hours and roughly 10% on the week.
Whale Buying Spree
Martinez noted in an X post that large holders — commonly referred to as whales — added the 470 million DOGE to their wallets over a multi-day stretch, a pattern that coincided with the coin's price recovery back above $0.10. A similar rally attempt at the end of last week fizzled quickly, with prices sliding back to lower levels.
This time the gains have held longer, though it remains unclear whether the momentum will sustain. The whale accumulation was not the only notable on-chain shift for the network.
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Why Network Activity Matters
Martinez also flagged a sharp increase in active addresses on the Dogecoin blockchain. "DOGE active addresses jumped 176% in the past week, climbing from 41,557 to 114,662," he wrote.
Rising active addresses typically reflect broader user engagement and can signal growing transactional demand — a metric that, combined with whale accumulation, suggests the recent price move may have deeper support than the failed rally days earlier.
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