According to on-chain metrics, Dogecoin is currently experiencing a notable whale accumulation phase. Exchange supply patterns have undergone a meaningful shift as major holders consolidate their positions. The buying pressure is intensifying—leverage metrics show an uptick as market participants rebuild confidence in the upside. These dynamics suggest that institutions and large traders are positioning themselves ahead of potential moves. The balance of power appears to be swinging back toward the bulls, with supply constraints tightening on centralized platforms.