Dogecoin whales have been accumulating a significant amount of DOGE over the past week, indicating a potentially bullish trend.
Large investors in the 1 million to 10 million coins range have purchased about 100 million DOGE ($18 million) in the recent accumulation spree.
The initial drop in supply held by this group coincided with a price rally, suggesting profit-taking, but they have since replenished their wallets as DOGE's surge slowed down.
The buying activity by these Dogecoin whales can be seen as a positive indicator for DOGE's price, although monitoring the Supply Distribution for any potential shifts in sentiment is advised.