--- title: "Dogecoin Whales Add 400 Million To Their Stash, Here’s How Much They Hold" url: https://diffcoin.com/dogecoin-whales-add-400-million-to-their-stash-heres-how-much-they-hold/ description: "Dogecoin whales are starting to increase their holdings in what is a general uptick in activity on the Dogecoin blockchain." published: 2024-09-13 updated: 2024-09-13 author: "Mila" site: "Diffcoin" --- # Dogecoin Whales Add 400 Million To Their Stash, Here’s How Much They Hold Dogecoin whales are starting to increase their holdings in what is a general uptick in activity on the Dogecoin blockchain. According to the latest on-chain data, addresses with large Dogecoin balances saw a remarkable surge in their holdings, with an approximate 960% increase occurring within just 24 hours. This accumulation by large holders coincides with a critical moment for the meme-based cryptocurrency, as it recently managed to break through a persistent downward-sloping trendline. ## Dogecoin Whales Add Millions To Their Stash According to data from the IntoTheBlock dashboard, Dogecoin large holders (also known as whales) recently saw their holdings increase by a massive 446.9 million DOGE tokens on September 11. This data was revealed through the ‘Large Holders Inflow,’ a metric that tracks the number of DOGE tokens entering addresses holding at least 0.1% of the total circulation supply of Dogecoin. Particularly, this data shows that the large holders increased their inflow from 46.25 million to 493.15 million DOGE on Sept. 11. Related Reading: Bitcoin Vs. Ethereum: Legendary Analyst Says He’s ‘Pretty Confident’ ETH Will Outperform Furthermore, the netflow data shows a corresponding increase from -395.88 million DOGE on the previous day to 414.97 million DOGE on September 11. Netflow is determined by subtracting the outflows (tokens leaving addresses) from inflows (tokens entering addresses) over a given period. A positive netflow indicates that whales are accumulating more Dogecoin, while negative values typically signal a selloff. ![Dogecoin](https://bitcoinist.com/wp-content/uploads/2024/09/Dogecoin_4f6f9d.png?w=512&resize=512%2C322) Source: IntoTheBlock On the exchange front, IntoTheBlock data also shows a notable decline in the amount of DOGE held by wallet addresses linked to cryptocurrency exchanges. The ‘Aggregated Exchanges Netflow’ metric highlights a net outflow of -104.31 million DOGE over the past 24 hours and a total of -108.89 million DOGE across the last seven days. These negative figures suggest that more Dogecoin is being withdrawn from exchanges than is being deposited. This shift is significant because it marks a change in market sentiment, given that previous data pointed to heightened selling pressure from whale addresses. ## DOGE Price Movement At the time of writing, DOGE is trading at $0.1031 and is up by 0.69% in the past 24 hours. A recent rally means DOGE is now trading 15% above a low of $0.08969 which it traded at earlier in the week. According to an analysis by crypto analyst Javon Marks, this rally puts DOGE on a little breakout above the upper trendline in a multi-month falling wedge price formation. However, the breakout is yet to be complete because DOGE bulls have found it hard to break above $0.104 for over three days now. In his analysis, he predicts that a successful breakout would likely result in a substantial 100% price increase that will drive DOGE up to around $0.22. From there, the stage could be set for an even larger bullish move for a major target of $0.6533. > [$DOGE](https://twitter.com/search?q=%24DOGE&src=ctag&ref_src=twsrc%5Etfw) (Dogecoin) looks to be working on a multi-month Falling Wedge breakout and a successful break can lead into a more than double (>100%) in price back to the $0.22 areas. > > Larger $0.6533 target is maintained. [pic.twitter.com/mGcpNWU2WC](https://t.co/mGcpNWU2WC) > > — JAVON⚡️MARKS (@JavonTM1) [September 9, 2024](https://twitter.com/JavonTM1/status/1833187398953668867?ref_src=twsrc%5Etfw) ![Dogecoin price chart from Tradingview.com](https://www.tradingview.com/x/4x4OximW/) DOGE price continues to recover | Source: DOGEUSDT on Tradingview.com Featured image created with Dall.E, chart from Tradingview.com [Source link](https://bitcoinist.com/dogecoin-whales-400-million/)