According to on-chain data from Santiment, Dogecoin whales have accumulated 1.47 billion DOGE worth $123.1 million since January 1, 2023. The Dogecoin Supply Distribution for wallets holding at least 10 million DOGE shows that these whales now hold almost 82% of the entire circulating supply of the meme coin. The whales' buying streak has coincided with some bullish momentum for Dogecoin, but year-to-date returns are only up 12%. The price may maintain current levels or even build up fresh upward momentum as long as the whales do not sell.

(By Hououin Kyouma)