Dogecoin Whales Accumulate $240M as Price Continues to Fall

Dogecoin has been experiencing a price correction over the past three weeks, and its trend does not seem to be ending soon. This downturn is part of a broader decline in the memecoin market.

Despite this, whales are taking advantage of the situation by accumulating DOGE at discounted prices. Over the past week, the number of DOGE held by these large holders rose from 18.72 billion to around 19 billion tokens.

A recent transaction saw spot holders buy over 240 million $DOGE tokens worth over $20 million. However, this buying activity does not guarantee a price increase, but rather suggests that confidence may be building ahead of the next potential rebound.