Dogecoin whales have been on a buying spree, accumulating over 1 billion DOGE in the past 24 hours.
The behavior of these large investors, known as the whale cohort, can influence the market and reflect in the cryptocurrency's price.
The previous accumulation by the whales led to a rally in DOGE's price, and it's possible that the current buying spree may result in a similar outcome.
Dogecoin has already shown a rally of almost 5% in the last 24 hours, indicating the potential bullish effect of the whale buying.