Decentralization is considered one of the main principles of cryptocurrencies, but in practice it results in the centralization of tokens in the wallets of the owners of the majority of the supply.
Token -meme Dogecoin (DOGE) is no exception, as according to BitInfoCharts, 37,08% of the total supply is controlled by just five addresses, with the largest of them accumulating 19,56%.
The Five Largest Whales Dogecoin . Source: BitInfoCharts
The activity of crypto whales is not accidental, as in 2024 Dogecoin showed a yield of 331,16%, however, after a maximum 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.
Price change Dogecoin per year. Data from CoinGecko
Since the beginning of 2025, whales have increased the pace of accumulation, thanks to which the digital asset has gained 10,65% since the beginning of the year.
From January 1 to 2, large investors bought more than 1,08 billion DOGE, according to renowned crypto analyst Ali Martinez. Their activity is certainly a strong bullish signal.
Map of DOGE accumulation by crypto whales. Source: Ali Martinez
Trader Tardigrade analyst has set a long-term price target for Dogecoin at $3,20, while cryptocurrency researcher TradingShot made a more conservative forecast of reaching $1,50 in the first quarter of 2025.
