Recent whale activities in Dogecoin may indicate a strategic accumulation or an attempt to boost prices. These significant purchases have sparked speculation about their impact on Dogecoin's price. Over the past month, transactions exceeding $100,000 and $1 million have surged. Data shows a direct correlation between these large transactions and price volatility. The mid-November spike in whale transactions coincided with Dogecoin’s rise from $0.28 to a peak of $0.44.
During periods of increased activity, whales amplify market momentum. However, as transaction frequency cooled by the end of November, DOGE's price stabilized near $0.41. The relationship between whale activity and price movements is evident, with concentrated buying pressure driving parabolic rallies in 2021, and periods of low whale activity leading to stagnation in subsequent years. Recent whale transactions echo pre-rally phases from 2020 and 2021, suggesting a potential breakout