Happycoinclub - Decentralization is considered one of the main principles of cryptocurrencies, but in practice, it turns into the centralization of tokens in the wallets of the owners of the majority of the supply.
The meme token Dogecoin (DOGE) is no exception, as according to BitInfoCharts data, 37.08% of the total supply is controlled by just five addresses, with the largest one accumulating 19.56%.
The five largest Dogecoin whales. Source: BitInfoCharts
The activity of crypto whales is not accidental, as in 2024 Dogecoin showed a return of 331.16%, although after a peak of $0.4665 on December 8, by December 31 the price of DOGE fell by 32.22% to $0.31616. Since then, the coin has recovered to the current $0.38.
Dogecoin price change over the year. Data from CoinGecko
Since the beginning of 2025, whales have increased their accumulation rates, which has led to a 10.65% increase in the digital asset since the beginning of the year.
From January 1 to 2, large investors bought over 1.08 billion DOGE, reported well-known crypto analyst Ali Martinez. Their activation is undoubtedly a strong bullish signal.
DOGE accumulation map by crypto whales. Source: Ali Martinez
Analyst Trader Tardigrade has set a long-term target price for Dogecoin at $3.20, while cryptocurrency researcher TradingShot made a more conservative forecast of reaching $1.50 in the first quarter of 2025.
