Dogecoin whales are in a significant accumulation phase, as reports reveal that large-scale token holders have purchased over 550 million DOGE tokens. This major accumulation trend is occurring as analysts predict that DOGE may be gearing up for a significant price surge. Dogecoin whale continues to buy trend Cryptocurrency analyst Ali Martinez has revealed that over the past week, large-scale token holders, often referred to as "whales," have purchased over 550 million DOGE tokens, worth $214.5 million. Although Martinez made this announcement in a post on X (formerly Twitter) on November 21, the news was initially reported by Santiment, a market information platform. The recent increase in whale accumulation has significantly boosted DOGE, highlighting the growing demand and interest from investors. Notably, this whale activity comes as the price of DOGE has seen a substantial increase this month. According to tradition, large-scale whale movements are often accompanied by significant changes in Dogecoin prices. Earlier this month, whale activity surged as the value of Dogecoin skyrocketed to over $0.3. Although the sudden price increase led to increased selling pressure, it seems that whales are returning and buying DOGE in large quantities. As the number one meme currency, DOGE has attracted a large following and supportive community, contributing to its widespread adoption and increased value. Recently, Dogecoin's price has seen a double-digit increase following news of SpaceX CEO Elon Musk's proposal for a Government Efficiency (DOGE) initiative. Moreover, the positive market sentiment from Donald Trump's victory in the US Presidential election also acted as a bullish catalyst for DOGE price. With all these market-driving factors, whales seem to be hedging in preparation for a potential bull run. The sudden surge in the activity of this whale can also be seen when IntoTheBlock reported that about 60.9 billion DOGE tokens were moved by whales in the past week. This sudden surge in large transaction volume is equivalent to 23.35 billion dollars. Analysts also predict that when the price of DOGE surpasses the resistance level around $0.4, this cryptocurrency will enter a period of significant price increase. In addition, analysts forecast that the upcoming inauguration of Trump could further boost the price of Dogecoin, possibly pushing it to the much-desired $1 level. Analysts predict that the price of Dogecoin will rise above $4. After Martinez's post highlighted the significant increase in whale activity accumulating Dogecoin, cryptocurrency analyst Trader Tardigrade believes that those holding large amounts may be positioning for a 10x increase in Dogecoin price. As of writing, DOGE is trading at $0.39; therefore, a 10X increase will push this meme coin to the target price of $4. Trader Tardigrade also points out that if these whales aim for a much larger increase in Dogecoin's price, then this meme coin may be preparing for an even higher increase above $4.