Dogecoin Whales Accumulate 240M DOGE in a Week as Price Slides

Dogecoin (DOGE) fell 3% over the past 24 hours and is down 10% on the week, tracking a broader pullback in memecoins that shaved more than 4% off the sector. Even with DOGE's market capitalization slipping, market chatter has turned more constructive as some traders position for a potential rally tied to expectations around a SpaceX IPO. Elon Musk previously said full payment for the SpaceX IPO would be accepted in DOGE, a development that could support demand if it materializes. On-chain data points to a sharp return of whale buying. Over the past week, large holders accumulated more than 240 million DOGE. Santiment data shows whale holdings rising from 18.60 billion DOGE to about 18.84 billion DOGE, with purchases averaging more than 40 million DOGE per day over the last five days. The timing echoes demand levels last seen roughly five years ago, when Musk said SpaceX would accept Dogecoin payments, a move later backed by Justin Sun. Price is also trading near those historically significant demand areas, reinforcing the bullish argument if buying pressure persists. On higher timeframes, DOGE is hovering around $0.08044, a level that previously served as the launch point for the advance toward $0.50. The market revisited the area in mid-2024, briefly dipped below it to sweep liquidity, then reclaimed it. The zone was tested again in February. Across prior bear-market cycles, DOGE has repeatedly gravitated toward the $0.06–$0.08 band, drawing interest from long-term holders and spot buyers. URPD (UTXO Realized Price Distribution) data indicates more than 30 billion DOGE last moved near $0.081, making it a key psychological and cost-basis support region. A rebound from current levels to the local range high at $0.11824 would imply upside of roughly 47%. Still, DOGE has not yet printed a clear reversal signal. A sustained reclaim of $0.11824 as support would add weight to the long-term bottoming thesis. Summary: Whale accumulation, URPD positioning, and the weekly structure suggest DOGE may be nearing a major bottoming zone. Confirmation remains limited until higher resistance levels are regained, despite the strong cost-basis support around $0.081 where more than 30 billion DOGE last changed hands.