Dogecoin Volume Spike To $2 Billion Might Be Bearish, Here’s Why

Dogecoin (DOGE) is experiencing heightened turbulence as on-chain metrics reveal a $2 billion surge in trading volume and an increase in whale ￰0￱ such explosive market activity may be misconstrued as bullish, deeper analysis suggests a more bearish atmosphere, as large holders offload their positions amid waning retail ￰1￱ DOGE prices consolidating near critical levels after its recent breakdown, analysts warn of an impending continuation of the downtrend as key supports fail to ￰2￱ $2 Billion Volume Surge Raises Red Flags On-chain data from TradingView has revealed a significant surge in Dogecoin’s trading activity, with volume climbing as high as 62% and exceeding $2 billion on Tuesday, November ￰3￱ the apparent increase in market participation, the underlying signals from oscillators, Moving Averages (MA), and pivot indicators collectively point toward “strong” selling ￰4￱ Reading: 4 Major Developments That Could Accelerate The Dogecoin Price To $1 In 2025 Notably, much of this heightened activity has been attributed to large holders liquidating their positions amidst broader market weakness, contributing to the already substantial wave of sell ￰5￱ data shows that Dogecoin’s price has been in a decline during this increase in market activity, highlighting the underlying bearishness fueled by increased selling activity.

DOGE’s price has been consolidating between $0.17 and $0.21 since mid-October 2025, forming a tight price range. However, with its recent volatility, its price has dropped below its former consolidation range and is now trading around $0.16, at the time of ￰6￱ confirms that Dogecoin’s previous range-bound behavior and its consistent price decline are being driven by whale distribution rather than ￰7￱ support this claim, recent reports from crypto analyst Ali Martinez revealed that over 1 billion DOGE were sold by whales within a single ￰8￱ just the week before, these large-scale investors had initiated a $500 million DOGE ￰9￱ escalating sell pressure has effectively weakened Dogecoin’s technical outlook, with prices now down more than 37% in the past month and momentum indicators showing exhaustion among ￰10￱ Predict Deeper DOGE Crash As Support Crumbles Martinez and market expert ‘Umair Crypto’ have both issued fresh warnings amid Dogecoin’s ongoing price ￰11￱ his post on X, Martinez emphasized that the DOGE price has officially lost its structural support at $0.18, invalidating the prior bullish ￰12￱ accompanying chart projects potential downside targets as low as $0.12, suggesting a 30% decline from current levels if bearish momentum ￰13￱ Reading: Dogecoin Price Breakdown Is Nothing To Worry About?

This Long Term Structure Points Above $1 Umair Crypto’s analysis echoes similar cautions, showing Dogecoin trading around $0.169, having failed to hold previous support ￰14￱ noted that the initial bounce from this current price range appears weak, indicating that sellers are dominating the ￰15￱ analyst’s chart suggests that the next critical support is near $1.41, approximately 15% below current levels. Additionally, he warns that weak rebounds at this key level often signal the start of a continued downtrend, suggesting that price declines could be on the ￰16￱ image from Getty Images, chart from ￰17￱