Dogecoin price promotion looks bare on the surfacebut the portfolios that often matter most are making interesting moves. Notably, on-chain data shows that major DOGE holders have returned to accumulation at a time when the meme coin is trading below key technical price zones of the year.
Dogecoin whales are buying into weakness
DOGE published many of them 2026 is under pressure, with rallies repeatedly struggling to change rise above $0.10. That has made whale behavior more important, because large holders tend to accumulate during periods when smaller traders sell, wait or lose interest.
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Data in the chain followed by crypto analyst Ali Martinez, from Santiment, shows that major DOGE holders purchased more than 525 million tokens in a span of 96 hours. At the time the accumulation was recorded, Dogecoin’s price action was in a tight spot directly below the 200-day moving average, a long-term trendline that is currently around $0.12. For context, that level has acted as a ceiling for most of 2026.
Interestingly enough, Ali Martinez’s reported 525 million DOGE purchase is especially notable because it occurred in just four days. This shows that large portfolios were actively absorbing supply during a compressed trading window. These types of purchases could reduce the immediate selling pressure on Dogecoin.
Another interesting thing is that the large wallet influx doesn’t seem to be so from Spot Dogecoin ETFs. These funds have only recorded $860,960 in inflows over the past week, a relatively small amount compared to the accumulation of whales. Based on the current price of Dogecoin, the 525 million DOGE purchased by large holders is worth more than $52 million.
The 200-day moving average DOGE needs to beat
The main technical issue for Dogecoin is the 200-day moving average. At the time of writing, Dogecoin is 200 days old MA is at $0.12. Dogecoin is also trading at $0.1025, which puts it just 15% below the moving average.
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A breakout of the Dogecoin price above the 200-day moving average would give the bulls their first major technical confirmation in months. It would show that whale accumulation is starting to impact the chart, and it could also force short-term traders to reassess Dogecoin’s position.
According to a crypto analyst who goes by the name Cryptollica on X, Dogecoin is now facing kind of a chance that only a handful of them have been published times in the last twelve years, indicating previous cycle bottoms in 2015, 2020 and 2022. In both cases, DOGE spent a long period of inactivity.
As it stands now, the Dogecoin Cycle Score has fallen back to the rebuild zone, a level that always appears when attention to the meme coin is very low. All that needs to happen now is for Dogecoin to rise above the 200 MA, and a rally could be possible starting to make sense.
Featured image from Pixabay, chart from Tradingview.com