Market “whales”—individuals or institutions that hold massive amounts of copyright—can significantly impact the doge price. Because they control large volumes of Dogecoin, their buy or sell actions can create noticeable ripples across the entire market.
When a whale sells a large chunk of Dogecoin, it increases the selling pressure. This can trigger panic among retail investors, leading to even more selling and a sharp drop in price. Conversely, when whales start buying Dogecoin in bulk, the increased demand can cause the price to spike, encouraging others to buy and pushing the price higher.
Sometimes, whales use strategies like “pump and dump,” where they inflate the price by buying large amounts, creating hype, and then sell off their holdings at the peak. This causes the price to crash, leaving late buyers with losses. While not always illegal in the unregulated copyright space, it can manipulate the market sentiment dramatically.
On-chain analytics tools like Whale Alert and Etherscan can help track these large transactions. If you notice a sudden movement of millions of DOGE to or from an exchange wallet, it could signal an upcoming price move.
Understanding whale behavior is essential if you’re investing or trading Dogecoin. It’s also a good reason not to rely solely on hype or short-term trends when making decisions. Stay cautious and consider how whale actions might affect your position.
To stay updated on live fluctuations and monitor the impact of large movements in real time, you can refer to the doge price on Toobit, which offers insights into volume, price changes, and market depth.