Large Dogecoin holders have collectively accumulated more than 200 million DOGE over the past week, according to onchain data shared by crypto analyst Ali Martinez. Santiment data indicated that whale-held balances rose from 18.60 billion DOGE to approximately 18.84 billion DOGE, marking an increase of roughly 240 million DOGE—exceeding the initially reported 200 million.
The accumulation occurred in a steady, multi-day pattern rather than through a single transaction, suggesting deliberate positioning rather than short-term speculation. This behavior is often interpreted as a bullish signal by market observers, as sustained whale buying can reduce available circulating supply if coins are moved into long-term storage.
Despite the significant accumulation, DOGE price remained under pressure, trading around $0.0835 and staying below the Bollinger Bands middle line at $0.0944. The Relative Strength Index (RSI) stood at 28.48, placing the asset in oversold territory—a condition that can precede a relief rally but does not guarantee a reversal.
In parallel, Dogecoin Foundation Director and House of Doge CTO Timothy Stebbing addressed critics who focus solely on price action, reiterating that “1 DOGE = 1 DOGE” and that long-term value will stem from utility, not hype. Stebbing emphasized that Dogecoin is designed for spending, and that any price appreciation he cares about will come through genuine adoption gains. His comments came as the broader crypto market faced selling pressure ahead of key inflation data.
