DOGE’s Whales Dive Deep: A Meme Coin Mystery Unfolds!

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Dogecoin 🐶, or as the cool kids call it, DOGE, is trading at a modest $0.21. In the past 24 hours, it’s seen a volatility of 3.1%, a market cap of $32.12 billion, and a 24-hour volume of $2.94 billion. Despite a 10% price drop over the last month, the on-chain metrics tell a curious tale. It seems the big boys are scooping up DOGE like it’s going out of style. 🛒

Data from the ever-so-reliable Santiment indicates that the 50-day average of Dogecoin transfers worth $100,000 or more has hit a five-month high in August. This is either a sign of great faith in the future of the world’s favorite meme coin, or a massive inside joke that only the whales understand. 🌊

Adding to the intrigue, the number of wallets holding between 1 million and 10 million DOGE has swelled by 33, totaling 4,288. Analysts, those mystical creatures of the financial world, suggest this is a clear sign of accumulation, not distribution. In other words, the big fish are getting bigger, while the rest of us are left wondering what we missed. 🤔

One theory behind the sudden surge in interest is the recent acquisition of Dogehash Technologies, a Dogecoin mining firm, by Thumzup, a company backed by none other than the Trump family. This high-profile move might just be the shot in the arm the DOGE community needed to feel a little more legitimate. 🎉

And if that wasn’t enough, Grayscale has thrown its hat into the ring by filing for a spot Dogecoin ETF. Of course, regulatory approval is still pending, which is a bit like saying “we’re thinking about it” in adult terms. 🤷‍♂️

Amidst all this, Dogecoin took a tumble of 15% from its August 24 high of $0.245, part of a broader crypto market correction. As of now, DOGE is trading around $0.21, down by over 4% in the past 24 hours. But hey, when has a little volatility ever stopped a good meme? 🙃

Market Sentiment and Technical Signals

Despite the downturn, some high-profile traders remain undeterred. Take James Wynn, the crypto millionaire who recently had a 10x leveraged Dogecoin long position liquidated, losing a whopping $22,627. Yet, he’s still bullish. 🦅

James Wynn (@JamesWynnReal) got completely liquidated on his $DOGE (10x) long position, losing $22,627.

– Onchain Lens (@OnchainLens) August 25, 2025

In a post on X, Wynn declared, “Time to go max long.” He argued that bearish sentiment is peaking and that it’s time to ride the wave. 🌊

Timeline bearish and calling for the bear market. Time to go max long.

MM’s just wiped out all the overly leveraged longs.

Time to RIP!!!! 🚀🚀🚀🚀

– James Wynn (@JamesWynnReal) August 25, 2025

Earlier, Wynn accused a “memecoin cabal” of manipulating the market through orchestrated pump-and-dump schemes. His solution? Creating his own meme coins where key opinion leaders (KOLs) get “precisely zero.” 🤣

Fuck the meme coin cabal, you give them supply and they just dump on your head.

They’re thieving scavengers. It’s orchestrated pump and dump.

I’m changing this. I’m making my own meme coins. Where KOLs get precisely zero.

If the market likes it, it’ll pump. If the market…

– James Wynn (@JamesWynnReal) August 23, 2025

From a technical standpoint, DOGE’s 4-hour chart shows a symmetrical triangle pattern, suggesting a period of healthy consolidation. According to Ali Martinez, this could be the calm before the storm. 🌩️

Dogecoin $DOGE: One last dip before the breakout!

– Ali (@ali_charts) August 25, 2025

If the pattern holds and there’s an upward breakout, DOGE could rally to $0.285, a potential 35% price swing from current levels. So, buckle up, folks, because the meme coin rollercoaster is just getting started. 🎢

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2025-08-26 19:14