Dogecoin (DOGE) has regained its momentum in May 2026 because of the increasing accumulation of the coin by whale addresses at a noticeable rate. On-chain data from Santiment indicates that whales continue to accumulate their coins, reaching a new high concentration point.
As of now, there are 149 major addresses, each having more than 100 million DOGE, that hold around 108.52 billion tokens. The value of these tokens is approximately $11.6 billion. In addition, there have been 739 transactions worth more than $100,000 over the last 24 hours.
There is a definite change in behavior between the current period and prior periods that had been characterized by bursts of buying activity in the retail sector. What we see at present is positioning by major stakeholders.
DOGE has risen by 16.5% within the last 10 days and keeps being supported by the critical $0.10 mark. The pattern resembles that from mid-2025, which was characterized by a consolidation period and a subsequent sharp surge of 65%, up to $0.27. At press time, DOGE is trading at $1079, according to CoinMarketCap.
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Dogecoin Surges on X Money
Nonetheless, some of the market news indicates how there has been more attention towards the utilization of these technologies, as can be seen from how they can possibly connect to X Money.
In addition, Dogecoin ETFs have become the talk of the town despite being small compared to the market capitalization. The market capitalization of all these ETFs totals only $12.84 million.
Speculation continues amid expectations that SpaceX will hold its IPO in June. SpaceX might consider using Dogecoin at some point, just like how it did with other experiments related to its DOGE-1 moon mission.
Technical Outlook
When taking into consideration the structural aspect, the increasing concentration of supply by holders indicates trust in the current market prices. Given that there are over 108 billion DOGE stored in major wallets, the supply that can be actively sold is getting lower and lower.
The situation was viewed as reducing the probability of a sharp decline due to panic selling, especially considering that there was greater participation from retail investors. With that, the $0.10 level is currently being seen as an area of stability before the next move.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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