Dogecoin Wallets Surge Past 1M as Price Targets $1 Amid Whale Accumulation

Dogecoin miners just sold a staggering 65 million $DOGE in 48 hours, raising concerns about potential downward pressure on the price. With sentiments in the community showing a mix of bullish and bearish outlooks, analysts suggest we could see prices dip below $0.15 unless demand…

— Gaal (@Gaal_ai) March 18, 2025

As of press time, Dogecoin is trading 3.05% higher at $0.1675, with daily trading volume jumping 13% to $1.06 billion, according to market data. Options trading volume has also surged 31% to over $96 billion, per Coinglass. These metrics suggest renewed momentum, even as DOGE remains below its previous highs.

Technical Indicators Suggest a Major Breakout

Crypto analyst Trader Tardigrade has identified a key formation in Dogecoin’s weekly chart—a doji candle, which often signals trend reversals.

• A similar doji pattern appeared before DOGE’s last major rally.

• If historical trends repeat, DOGE could climb to $1 and beyond.

• Holding the $0.16 support remains critical for bullish momentum.

While speculative, these patterns have led to increased trader confidence. Market analysts have even projected the possibility of parabolic moves toward $20—though such targets remain ambitious without further catalysts.

Dogecoin Addresses Hit 4-Month High

Despite a 37% decline in Dogecoin’s price over the past two months, on-chain data suggests growing interest:

Santiment tweeted, suggesting to pay attention to the number of wallets holding at least 1 million USD worth of DOGE, which has increased during the price drop. In addition, the number of active addresses for Dogecoin has exceeded 150,000, reaching a new high since November last…

— Cointime (@Cointime_global) March 18, 2025

• Over 1 million wallets now hold at least 1 million DOGE, per Santiment.

• Active addresses have surged, hitting their highest levels in four months.

• This uptick suggests accumulation rather than panic selling.

For Dogecoin to sustain an uptrend, it will likely need support from the broader crypto market. Additionally, speculation around a potential Dogecoin ETF could serve as a major catalyst, should institutional interest gain traction.

While DOGE remains speculative, rising whale activity and address growth point to a market primed for movement. If momentum continues, Dogecoin’s path to $1 may be closer than expected.