Dogecoin Whales Are Offloading Hundreds Of Millions Of DOGE, Here Are The Facts

Dogecoin whales are now back in the spotlight as recent on-chain metrics reveal a major move involving hundreds of millions of ￰0￱ latest data shows 440 million DOGE being offloaded as selling pressures ￰1￱ this sharp decline in whale holdings, the meme coin’s price has experienced significant volatility, falling to $0.18 after recording weeks-long ￰2￱ Whales Trim DOGE Holdings En Masse According to on-chain data from crypto analytics platform Santiment, wallets holding between 10,000,000 and 100,000,000 DOGE have sold off roughly 440 million tokens within 72 ￰3￱ large-scale distribution marks one of the most significant short-term liquidations from mid-level whale wallets in recent ￰4￱ Reading: Dogecoin Open Interest Crashes 50% From October Highs, Volume Is Worse, What’s Going On?

Notably, on Thursday, October 29, these wallets accounted for approximately 15.51% of the total DOGE supply, but that figure dropped to 15.31% the following day. Moreover, it declined again on October 31 to 15.17%, and now stands at a low of 15.15%, at the time of ￰5￱ whales abruptly reduced their exposure, the market also responded ￰6￱ from CoinMarketCap shows that Dogecoin’s price plummeted about 5.76% this last week, following its 27% crash over the past ￰7￱ selling pressure increases for Dogecoin, Santiment’s data further reveals that whale transaction counts for holders managing DOGE worth $100,000 and above spiked to 119 transactions on October 30, before plunging to 15 at the time of ￰8￱ sharp decline suggests a rapid transition from distribution to dormancy among short-term high-volume traders.

Interestingly, there have been signs of a redistribution, indicating that not all large holders are exiting the ￰9￱ reports that whales with holdings exceeding 100,000,000 DOGE have increased their balances from 19.28% to 19.46% over the same period, implying accumulation from even larger players. Meanwhile, investors with holdings between 100,000 and 10,000,000 DOGE have maintained a steady position, signaling a neutral stance amid market ￰10￱ Eye $0.33 And Beyond As Technical Patterns Align Despite widespread whale dumping, analysts remain optimistic about Dogecoin’s medium to long-term price ￰11￱ market expert Ali Martinez identified Dogecoin’s current price at $0.18 as a critical support ￰12￱ on his analysis, maintaining this price floor could spark a recovery wave targeting $0.26 and potentially $0.33.

His chart illustrating Dogecoin’s ongoing consolidation within an Ascending Channel highlights a potential upward break aligning with previous recovery ￰13￱ Reading: Dogecoin Price Resurrection To $0.5 Could Be Imminent If This Level Breaks Adding to the bullish outlook, Bitcoinsensus has released a long-term projection, suggesting an explosive continuation of DOGE’s cyclical ￰14￱ analysis compares past rallies, showing gains of 300% and 500%, and now points toward a potential 800% surge that could propel the meme coin to approximately $1.70 in the current market ￰15￱ accompanying chart reflects a pattern of expanding momentum phases, supported by ascending trendlines from ￰16￱ image from Getty Images, chart from ￰17￱