Usman Salis
Dogecoin took a hit this week, falling to $0.22, but big players aren't backing down – they've scooped up a massive 310 million DOGE tokens in just 24 hours.
DOGE (Dogecoin) Price Takes a Beating But Whales Keep Buying
The meme coin favorite has had a rough time lately, sliding from around $0.252 on July 23 down to $0.22 by July 30. That's a pretty decent drop that's got retail traders feeling nervous.
But here's where it gets interesting – while everyone else is selling or sitting on the sidelines, the big money is doing the opposite. A Twitter post revealed that whale wallets (the ones holding over 1 billion DOGE) have been on a serious shopping spree, adding 310 million coins to their stash in the last day alone.
The Santiment chart shows these whale wallets now hold a whopping 72.62 billion DOGE total. So while the price is going down, the smart money seems to be loading up like there's no tomorrow.
What This DOGE Price Action Really Means
This kind of thing usually doesn't happen by accident. When you see whales accumulating while prices are falling, it often means they know something the rest of us don't – or they're just betting on a bounce back.
Historically, this pattern has been pretty good news for DOGE price movements. Big holders don't usually throw millions around unless they think something good is coming.
Dogecoin (DOGE) Price Could Be Setting Up for a Comeback
Right now, DOGE is testing some key support levels around $0.22. If it can hold here and stop the bleeding, we might see a push back toward the $0.235–$0.243 range where it was trading earlier this month.
The fact that whales are backing up the truck at these lower prices is definitely something to keep an eye on. Sure, retail folks are staying cautious, but when the big players are this active, it usually means something's brewing.
Of course, crypto being crypto, anything can happen. But with 310 million DOGE getting snapped up in a single day, it's clear that not everyone thinks this price drop is permanent. Smart money might just be positioning for the next leg up.
Usman Salis
