Despite the recent market downturn, Dogecoin (DOGE) whales have been busy accumulating more coins. According to data from IntoTheBlock, large transactions worth over $100,000 have increased significantly in the past few days, totaling $1 billion. This surge in whale activity suggests that these investors are taking advantage of the low prices to buy more Dogecoin.

Further analysis from IntoTheBlock reveals that these whales are not just accumulating but also holding onto their coins. The net flow to exchanges metric has been negative for the past week, indicating that whales are not selling their holdings but instead holding them in their wallets. This is a bullish sign for Dogecoin, as it suggests that these investors are confident in the coin's potential for future growth.

The recent price dip has also made Dogecoin an attractive buy for some analysts. Crypto Kaleo predicts that Dogecoin could drop to as low as $0.08 before experiencing a massive rally to $1 and $2 in this bull run. Similarly, Kriss Pax believes that Dogecoin is due for a significant bounce and could reach as high as $2 in this market cycle.

While some investors may be deterred by the recent price drop, Dogecoin's fundamentals remain strong. The coin's large and active community, combined with its increasing adoption and use cases, make it an attractive investment opportunity for those looking for a potential long-term gain.

In conclusion, Dogecoin whales have been busy accumulating more coins amid the recent price dip. This surge in whale activity suggests that these investors are confident in Dogecoin's potential for future growth. While the price may fluctuate in the short term, Dogecoin's fundamentals remain strong, making it an attractive investment opportunity for those looking for a potential long-term gain.