Dogecoin Whales' Holdings Reach All-Time High
The total holdings of Dogecoin whales have reached an all-time high of 10.852 billion DOGE, valued at approximately $11.6 billion.
According to Santiment, whale activity has surged to its highest level in six months.
Source: Public Information
ABAB AI Insight
Dogecoin whales previously accumulated in key price ranges from late 2024 to early 2025. This new record high in holdings continues their trend of being favored by large holders as a representative of meme coins. Notably, several well-known addresses have been buying at lower levels and locking in for the long term.
In terms of capital flow, whales are concentrating their purchases at the current price range, transferring a large amount of circulating supply from retail investors to a few large holders. Their motivation appears to be betting on crypto-friendly policies from the Trump administration, potential integration of payments on the X platform, or DOGE ETFs as long-term catalysts, thereby amplifying future upside potential through high concentration of holdings.
Similar to the whale-led DOGE rally during the 2021 bull market, or concentrated buying of other meme coins during favorable policy windows, Dogecoin is currently in a mid-stage characterized by renewed whale activity and high concentration of holdings, focusing on testing market selling pressure and absorption capacity at the $11.6 billion scale.
Essentially, this represents capital concentration: whales are locking Dogecoin's circulating supply in a few addresses through continuous buying, driven by expectations of favorable policies and ecosystem developments, shifting pricing power from retail-driven short-term sentiment to strategic allocation by large holders, accelerating the structural transition of meme coins from pure speculation to institutional assets.