- Dogecoin Whales Stay on Sidelines: Large holders controlling 41% of DOGE supply show little buying or selling activity, signaling a wait-and-watch approach.
- Analyst Predicts 500% Surge: Trader Tardigrade points to a Stochastic RSI crossover, suggesting Dogecoin is oversold and could rally past $1.50.
- Market Interest Declines: Dogecoin futures Open Interest drops 53%, raising concerns of a meme coin resetrather than a full market collapse.
Dogecoin’s large investors seem to be playing the waiting game as the memecoin continues its correction phase, according to a well-known crypto analyst.
Whale Activity at a Standstill
Crypto analyst Ali Martinez, known for tracking on-chain movements, pointed out that Dogecoin whales have remained on the sidelines, showing little to no major buying or selling activity in recent weeks.
“Dogecoin whales have stayed on the sidelines during recent volatility, showing little to no significant buying or selling activity!” — Ali Martinez (@ali_charts) Feb 20, 2025
Whales—wallets holding more than 1% of the coin’s supply—currently own over 41% of Dogecoin’s total supply, according to IntoTheBlock. Despite DOGE’s $37 billion market cap, the token has dropped 3.37% this week and over 25% this month, causing concerns about declining investor interest. But here’s the twist—they aren’t selling either, hinting at confidence in an eventual rebound.
Trader Tardigrade Predicts a 500% Surge?
Prominent trader Trader Tardigrade has taken a bullish stance, pointing to Stochastic RSI data suggesting Dogecoin may be oversold—and primed for a massive breakout.
“Dogecoin’s weekly Stochastic RSI signals a crossover in the oversold zone! Macro channel suggests $DOGE could target above $1.50 🚀” — Trader Tardigrade (@TATrader_Alan) Feb 19, 2025
If his prediction holds, that would mean an explosive 500% rally from Dogecoin’s current price levels.
For those unfamiliar, Stochastic RSI measures the RSI’s position relative to its high-low range over a period, essentially acting as a signal for whether RSI itself is overbought or oversold.
Market Interest Fades, But Is It a Reset?
While whale inactivity lingers, speculative interest in Dogecoin futures has also tanked. Data from Coinglass shows that Open Interest in Dogecoin futures has collapsed by 53% this month, meaning traders aren’t betting on major moves anytime soon.
Some analysts have called this a “meme-pocalypse”, noting that meme coins across the board have taken a beating. But is this a full-blown collapse or just a healthy reset before the next cycle?
For now, all eyes remain on DOGE—whales are quiet, traders are hesitant, and the market waits. But if Tardigrade’s bullish call is right, a parabolic surge might just be around the corner.
