Dogecoin Whales Accumulate 220 Million DOGE in March Despite 25% Drop: What Do They Know?

In the volatile world of cryptocurrency, Dogecoin (DOGE) has always been a coin that defies conventional wisdom. Despite a 25% drop in price in March 2025, Dogecoin whales accumulated a staggering 220 million DOGE, signaling a bullish outlook that has left many analysts and investors scratching their heads. What do these whales know that the rest of the market doesn't? Let's delve into the indicators and market signals that might be driving this unprecedented accumulation.



The Formation of Higher Lows

One of the key indicators that Dogecoin whales might be responding to is the formation of higher lows. Historically, this pattern has been a precursor to significant price spikes. Javon Marks, a prominent crypto analyst, pointed out that Dogecoin is currently forming higher lows, which suggests a bullish trend and potential for substantial price increases. This technical pattern provides a strong foundation for whales to accumulate more DOGE, anticipating a future rally.

Historical Patterns and Accumulation Phases

Whales are known for their strategic accumulation during phases of market downturns. Trader Tardigrade, another respected analyst, predicts a J-shaped rebound for Dogecoin, noting that the meme coin has a history of rallying after accumulation phases before retracing. This pattern has been observed in the past, providing a historical basis for whale accumulation. The recent accumulation by whales in March 2025 aligns with this historical trend, suggesting that they are positioning themselves for a potential bullish breakout.

Key Resistance Levels and Technical Indicators

Ali Martinez, a crypto chart analyst, identified two key resistance levels at $0.18 and $0.21. Breaking through these levels could ignite the next major rally, making it a strategic time for whales to accumulate before a potential breakout. The data from Coinglass shows that Dogecoin's long liquidations touched $1.26 million, the lowest level since March 23, indicating reduced selling pressure and a potential shift towards accumulation. Additionally, the open interest increased 1.7% to $1.6 billion in a single day, signaling growing trader interest and confidence in the asset.

Elliott Wave structure and Fibonacci Levels

The Elliott Wave structure and Fibonacci levels also provide insights into Dogecoin's potential price movements. According to an analyst on TradingView, Dogecoin's price has been following a clear Elliott Wave structure, with the next stage being the formation of the ABC corrective waves. The 0.382 Fibonacci retracement level suggests a target of $0.213, which aligns with the resistance level identified by Martinez. This liquidity zone between $0.213 and $0.235 is highlighted as a likely area for the next bullish leg, further supporting the whales' accumulation strategy.

Whale Activity and Market Sentiment

The accumulation by whales in March 2025 can be compared to previous periods of significant whale activity to understand the potential outcomes. In the past two weeks leading up to March 25, 2025, whales accumulated over 200 million DOGE, which helped push the DOGE price up nearly 25% from $0.15 to $0.19. This period of accumulation was marked by a surge in whale transactions, with the number of significant transactions exceeding $100,000 and affecting millions of DOGE tokens. The massive buying spree by whales created buying pressure that drove prices higher due to increased demand.

Conclusion

In conclusion, Dogecoin whales likely responded to the formation of higher lows, historical patterns of rallying after accumulation phases, key resistance levels, reduced selling pressure, growing trader interest, and technical indicators such as Elliott Wave structure and Fibonacci levels. These signals collectively suggest a bullish outlook for Dogecoin, making it an opportune time for whales to accumulate the asset. As the market continues to evolve, it will be interesting to see how these whales' strategies play out and whether their accumulation will lead to the next major rally for Dogecoin.

Ask Aime: Why are Dogecoin whales accumulating despite a 25% drop?