Dogecoin (DOGE) is back in the spotlight after a jaw-dropping 22% surge in just 24 hours, fueled by massive whale activity. According to on-chain data, large holders scooped up over $220 million worth of DOGE, triggering speculation of a meme coin rally reminiscent of 2021.
The sudden spike comes amid broader crypto market optimism, with Bitcoin nearing its all-time high and Ethereum gaining institutional traction. But Dogecoin’s rise is uniquely driven by retail sentiment and whale accumulation.
Whale Moves Signal Meme Coin Momentum
#Dogecoin whales bought another 1 billion $Doge in a single day.
Equivalent to $230 million. pic.twitter.com/AZcUXGbefc
— dogegod (@_dogegod_) August 11, 2025
Blockchain analytics firm WhaleScope reported that five wallets alone added over $40M each, marking one of the largest single-day DOGE accumulations in recent months. “This kind of coordinated buying is rare,” said analyst Tara Nguyen. “It suggests either insider confidence or a planned pump.”
Social media buzz exploded, with #Dogecoin trending on X and Reddit forums speculating on a new meme coin season. Influencers like Matt Wallace and CryptoWendyO hinted at “DOGE flipping SHIB” in the coming weeks.
$Doge/daily#Dogecoin is going parabolic 🚀 pic.twitter.com/dzzIqnpz9h
— Trader Tardigrade (@TATrader_Alan) August 12, 2025
Price Outlook and Market Sentiment
DOGE is currently trading above $0.21, its highest since early 2024. If momentum continues, analysts predict a short-term target of $0.30, with potential upside if retail FOMO kicks in.
However, caution remains. “Dogecoin rallies are often emotional,” said crypto strategist Leo Zhang. “Whales may dump just as fast as they accumulate.”
