Dogecoin has spent the past few days rebounding after a downturn to the mid-$0.13s, and its on-chain activity is beginning to tell an interesting bullish story. Data from Santiment shows a quiet accumulation trend of hundreds of millions of DOGE tokens taking place among some of the asset’s larger holders, even as the price continues to struggle for momentum.

This change in wallet behavior is unfolding at a time when Dogecoin’s recent performance offers very little excitement for bullish traders, making the quiet accumulation all the more notable.

Dogecoin Whales Accumulation: What the Numbers Show

The data from Santiment highlights a quick climb in holdings among Dogecoin addresses holding between 1 million DOGE to 100 million DOGE tokens. Particularly, the data shows th

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