Another bullish driver for DOGE is the increasing accumulation by institutional players and large holders, often referred to as whales.
According to analytics from , wallets holding between 100 million and 1 billion DOGE now collectively own over 26.46 billion DOGE, the highest level since December 2023. This is a notable increase from 23 billion DOGE in January 2025, signaling renewed confidence among major stakeholders.
Moreover, on-chain data reveals that since April 1, 2025, there have been more than $695 million in outflows from exchanges, indicating that DOGE is being transferred into self-custody. Such behavior is typically interpreted as a bullish sign, indicating long-term conviction rather than short-term speculation.
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