Dogecoin Whales Accumulation Signals Trend Reversal 

Dogecoin (DOGE) has shown signs of reaching its correction bottom, with a market cap of approximately $36.8 billion. Over the last 24 hours, the popular memecoin saw a 2% increase in price, reaching a peak of around $0.2497 before dropping back to trade at roughly $0.2429 at the time of writing.

Why Is the DOGE Price Up Today?

Technical Tailwinds

One of the driving factors behind Dogecoin’s price rebound is technical tailwinds. Since early April 2025, Dogecoin has been forming a rising wedge pattern. After a recent dip to 23 cents following a $1.7 billion liquidation of leveraged trades in the crypto market, DOGE price retested the lower border of its rising wedge pattern. This positioning suggests that Dogecoin is poised for consolidation, similar to previous instances where it retested the lower border before rallying towards the upper border.

Renewed Accumulation by Whale Investors

According to on-chain data analysis from Santiment, addresses holding between 100 million and 1 billion DOGE coins have accumulated 2 billion DOGE units in the past two days. This group of whale investors now holds a total of 29.16 billion DOGE coins, indicating renewed interest and accumulation in Dogecoin.

Spot ETF Hype

The hype surrounding spot exchange-traded funds (ETFs) has also contributed to the rise in Dogecoin price. The recently approved REX – Osprey Dogecoin ETF, known as DOJE, has seen more than $8.7 million in net cash inflows since September 18, according to ETF data. With the U.S. SEC approving generic listing standards for spot crypto ETFs, more spot DOGE ETFs are expected to be approved in the near future. Fund managers such as 21Shares, Bitwise, and Grayscale Investments are among those looking to offer spot DOGE ETFs.

As Dogecoin price approaches the apex of the rising wedge pattern in the daily timeframe, the trend for the coming months will be defined by a consistent close on either border. With technical tailwinds, renewed accumulation by whale investors, and the hype surrounding spot ETFs, Dogecoin’s price could see further upward momentum in the near future.