With the price of DOGE falling by 5%, the DOGEWhale filled its bags.

on-chain data shows that DOGEWhale has started buying aggressively, while the price of memecoin has dropped in the past 24 hours. As analyst Ali Martinez pointed out in an article on X, DOGEWhale has been involved in net accumulation in the past 24 hours. The relevant on-chain indicator here is the analysis company's "supply distribution," which tells us the amount of DOGE currently held by a specific wallet group.
According to the number of Tokens held by the Address, the Address is divided into different wallet groups. In the context of the current discussion, the group with 1 million to 10 million Tokens is worth following.
This group naturally includes only holders of at least one million and up to ten million memecoin Tokens. Based on current asset prices, the lower limit of this range is approximately $118,000, and the upper limit is equivalent to $1.18 million. Only large holders of DOGE network are eligible to join this group. More specifically, the smaller part of the Whale group will belong to this range.
The first picture is the chart shared by the analyst, showing the distribution trend of these DOGEWhales' supplies in the past few weeks. In the past few days, the supply distribution of DOGE by this group has increased, indicating that the Whales have been involved in net accumulation.
In the past 24 hours alone, these investors have added 60,000 DOGE to their wallets, worth about $7.1 million. Although this amount is not high, in fact, this group did not sell during the recent price pullback, which may be a bullish signal for memecoin.
The timing of the purchase definitely indicates that the whales are sensitively following DOGE, seizing any dip opportunities that arise, because they may ultimately profit.
However, this indicator may need to be monitored in the coming days as the situation can change rapidly, and any sell-off by these large investors could lead to bearish outcomes.
Dogecoin broke through the $0.127 level in its recent surge, but the token retraced in the past 24 hours and its price dropped to $0.119.
(Data Source: Keshav Verma)