Recently, the values of significant altcoins like Dogecoin (DOGE) and Ethereum ( ETH) surged, sparking fresh conjecture about the start of an “altcoin season.” This term describes a period when other cryptocurrencies, like Bitcoin’s Price, see notable price rises, usually driven by technological developments, more investor involvement, and whale behavior. In this post, we investigate whether Ethereum and Dogecoin’s present price swings indicate the start of altcoin season and look at which assets whales, the most prominent market players, are purchasing more of.
Ethereum Price Surge Explained
Ethereum, the second most valuable cryptocurrency by market capitalization, has driven the most recent altcoin price boom. ETH’s price has surged noticeably over the last two weeks, almost reaching $4,000. Both market mood and Ethereum’s rising acceptance for distributed finance (DeFi) applications and its change to proof-of-stake via Ethereum 2 help explain this expanding movement.
Whale behavior in Ethereum has increased as wallets containing at least 1,000 ETH reach new highs. This trend points to big institutional investors moving to Ethereum, supporting its price. Technical indicators, notably the Relative Strength Index (RSI), which has recently created a “golden cross,” support Ethereum’s price spike further and suggest that more price gains might be in store.
Given Ethereum’s ongoing supremacy in the smart contract Crypto Market, its future growth is noteworthy. Should ETH’s price surpass critical resistance thresholds, say $3,827, it would open the path for even further pricing, maybe reaching $3,987 or higher. Should the price drop below the crucial support level of $3,543, though, it may experience a pullback and test levels as low as $3,096.
Dogecoin’s Market Surge
Initially considered a meme coin, Dogecoin has evolved into a frequently discussed cryptocurrency. Originally started as a joke in 2013, Dogecoin has become a significant rival in the cryptocurrency market, especially following well-known sponsorships by people like Elon Musk. Dogecoin has seen significant price rises over the last few months, and current whale activity has contributed to this.
For instance, a large whale purchase of 1.08 billion DOGE valued at over $400 million in early January 2025 helped set prices in motion. Likewise, the cost of Dogecoin changed significantly following another acquisition of over 1.4 billion DOGE in March, valued at over $230 million. Seeing Dogecoin as a long-term asset with excellent upside potential, these big purchases indicate that whales are setting themselves up to seize its possibilities.
Analysts have even conjectured that Dogecoin, a 170% increase from its present value, might reach $1. This would propel its market capitalization to $100 billion, making it among the top digital assets by market value. More institutional and retail investors are joining the open interest in Dogecoin as it rises, from $2 billion to $3 billion in just a week, driving the price boom.
Whales’ Market Influence
Because of their massive volume of trading, whales—also known as big bitcoin holders—have an exaggerated influence on the market. A whale’s purchase of a large quantity of a given cryptocurrency usually causes an instantaneous price change, and their ongoing interest helps to maintain momentum. Whales have heavily accumulated Ethereum and Dogecoin recently, suggesting that big investors see long-term promise in these altcoins.
Especially remarkable is Ethereum’s predominance among whales. Just 104 wallets hold over 57% of the overall ETH supply. This concentration of holdings reveals that whales are vital for determining the price and maintaining Ethereum’s price stability. Likewise, the growing number of big holders of Dogecoin indicates that essential market players are projecting the commodity’s future value.
Apart from Ethereum and Dogecoin, for instance, whale interest in other cryptocurrencies such as Cardano (ADA), Lido (LDO), and even meme-based tokens like Pepe (PEPE) has grown. This implies that these big investors also spot other possible development prospects in the altcoin market as they vary their holdings.
Altcoin Season Emerging
With Ethereum and Dogecoin’s huge price swings and the observed whale activity, it seems that the market might really be starting an altcoin season. Altcoin seasons historically arise when the price of Bitcoin settles or shows slight fluctuation, which drives investors to hunt for better profits elsewhere. The higher whale activity in Ethereum and Dogecoin is a clear sign that big investors have faith in the long-term worth of these assets.
Regarding price appreciation, lesser cryptocurrencies—sometimes known as “altcoins—often outperform Bitcoin during Altcoin season. Technical improvements, market mood, and new use cases being embraced by various blockchain projects all help to explain this.
Whether Ethereum, Dogecoin, and other cryptocurrencies can continue profiting from this trend will depend on the next few months. Ethereum may continue on its rising path after Ethereum 2.0 is fully implemented and continuous advancements in the larger DeFi scene are underway. Likewise, given the rising popularity of Dogecoin and whales’ fresh interest, it could continue seeing significant increases.
Final thoughts
Ultimately, rising whale activity, along with the recent price rises of Ethereum and Dogecoin, point to the possible beginning of altcoin season. Large investors accumulating these altcoins help propel the market forward, generating a ripple effect that might increase general involvement. Still, like with every market, care is always required.
Although Ethereum and Dogecoin have great promise, market conditions are fast changing, and careful study is crucial before deciding on an investment. The next few months will define whether altcoin season is really upon us and whether these digital assets can keep rising in the Bitcoin terrain.
