Dogecoin whales just loaded up with 158,000,000 coins, worth about $44 million, at an average entry around $0.28. Most of the buying came from wallets with between 1,000,000 and 10,000,000 DOGE in them. These wallets now control more than 11.03 billion DOGE in total, as displayed by Ali Martinez.

The price action was right on the money with this accumulation. At the start of August, DOGE was trading at around $0.22, which gave it a market cap of about $31 billion. 

By Sept. 17, it had touched $0.299, adding more than $9 billion to its total valuation. That is a 35% move in six weeks, with 25% of that run packed into just 14 days — the exact window when these big-time investors expanded their holdings.

Whales bought over 158 million Dogecoin $DOGE! pic.twitter.com/9mURge5gMF

The numbers show just how concentrated the impact was. As of Aug. 25, these wallets held around 10.77 billion DOGE. By Sept. 18, that figure had risen to 11.03 billion — a 260-million-coin increase. 

Bottom line for Dogecoin price?

The net inflow settled at 158 million after some redistribution, but the pattern is still building up. At the same time, DOGE volume on the major exchanges went up by about 100%, going from an average of $450 million a day at the end of August to almost $1 billion during the September rally.

In the past, these holders have been really important for Dogecoin cycles. In the 2021 run, when the price shot up from $0.05 to $0.73, wallets holding 1-10 million DOGE were consistently growing. The fact that they are buying in size again, with prices under $0.30, is a sign to traders that the big players see value here.

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