In the current era dominated by the surge of meme-inspired cryptocurrencies, Dogecoin, the leading memecoin, remains range-bound in its trading patterns. With the 24-hour trading volume dipping below a billion, there is a noticeable shift in momentum towards other tokens like Pepe, which currently holds the position of the most traded memecoin. Despite this, speculations suggest an imminent change in the market dynamics of DOGE's price as it nears the conclusion of its accumulation phase.

Throughout its history, the actions of large holders, known as whales, have wielded significant influence over Dogecoin's long-term price movements. The escalation of accumulation typically indicates a higher likelihood of a bullish trend emerging, while a decrease does not necessarily signal a bearish trend. Recent data from a widely followed analyst, ALI, indicates a resurgence in Dogecoin whale accumulation.

The chart depicting the number of addresses holding DOGE tokens between 100 million and 1 billion shows a substantial increase of over 200 million DOGE since May 30. These whales currently possess DOGE tokens valued at more than $31 billion, signifying a considerable portion of the circulating supply. Despite this substantial accumulation, price levels have remained steady, hinting at an imminent significant price movement on the horizon.

An analysis by experts suggests that the ongoing price correction is a common precursor to a major bull run, mirroring previous instances in 2017 and 2021. In 2017, Dogecoin experienced a breakout from a descending triangle, followed by a 40% retracement and a phenomenal surge of over 900%. Similarly, in 2021, the token underwent a retracement exceeding 50%, leading to a remarkable rally exceeding 12,000%.

The recent breach of the descending triangle coupled with a 50% retracement indicates the potential triggering of the next bull run for Dogecoin. Drawing parallels to historical patterns, the forthcoming bullish momentum could propel Dogecoin's price past the coveted $1 milestone once again.