Large investors of DOGE have bought $112 million worth of the cryptocurrency Dogecoin.

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Dogecoin (DOGE) has recently seen a decrease in demand as its price drops. Crypto investors are now turning their attention to the leading meme coin, which is expected to benefit from this shift.

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**Dogecoin Whales Accumulate 700 Million DOGE**

Crypto analyst Ali Martinez reported that DOGE whales have purchased over 700 million DOGE ($112 million) in the past 72 hours. This aligns with the current trend of investors focusing on meme coins.

Trading firm QCP Capital confirmed this trend, noting that traders are now looking at higher beta meme tokens like Shiba Inu (SHIBA), Dogecoin (DOGE), and Pepe (PEPE). These meme coins are gaining traction, with Shiba Inu and Pepe seeing double-digit gains recently.

Investors are accumulating DOGE in anticipation of potential price increases for the meme coin. Dogecoin has been trailing behind other top meme coins that have experienced significant growth in the past week, indicating that DOGE may soon have its own rally.

**Why Dogecoin Is One Of The ‘Lowest Risk Trades’**

Altcoin Sherpa mentioned that Dogecoin’s potential rise to $0.40 presents one of the lowest risk trades in this cycle. The analyst believes that retail investors will continue to accumulate Dogecoin, leading to a surge in its price.

Additionally, Altcoin Sherpa highlighted Elon Musk’s interest in Dogecoin, stating that a single tweet from the Tesla CEO could significantly impact the meme coin’s value. The analyst also noted that Dogecoin offers great liquidity and low downside compared to other meme coins.

In conclusion, Dogecoin is poised for potential growth as investors shift their focus to meme coins and anticipate positive price movements for the popular cryptocurrency.