An interesting phenomenon—those who were worried about DOGE falling below $0.1 in early January are now dreaming of a $1 rally. The crypto market is just like that, with emotions swinging like a roller coaster.

But there is actually a deeper logic behind this. On the night of January 1st, the market collectively plummeted, with Bitcoin briefly dropping below $87,000, causing over 100,000 traders to be liquidated. DOGE also followed the trend, sinking to $0.12, as many retail investors panicked and sold off their holdings.

It may look like a real crisis, but in fact, big funds have been lurking in the shadows. On-chain data shows that when retail investors were frantically selling off, several whale addresses aggressively accumulated in the $0.12-$0.13 range, buying nearly 5 billion DOGE within 24 hours. This pattern is familiar—when others panic, the true players are adding to their positions.

Why do whales choose this point to deploy? First, the valuation has returned to a reasonable level. After the adjustment at the end of 2025, DOGE’s CVDD indicator has entered a strong accumulation zone, making this a safe entry point with sufficient margin of safety. Second, the overall environment is shifting. Bitcoin broke through $93,000, and the sentiment in the crypto market is changing; bottom signals have already been released.

In the short term, focus on price; in the long term, observe capital flows. Every move by whales is telling us the true market sentiment.