- Big whales sold $700 M DOGE, pushing the price below $0.20.
- Mid-tier whales accumulated 4.72 billion DOGE, supporting potential short-term rallies.
- Key resistance at $0.21 and liquidity zones may trigger a bounce or further dip.
Dogecoin — DOGE , has been facing a rough patch recently, trading below $0.20 despite a modest 2.4% gain over 24 hours. Trading volume jumped to $2.07 billion, up 26%, showing activity is picking up. Large whale selling and mixed sentiment among investors have left the market direction unclear. Still, analysts remain hopeful that DOGE could recover and even aim for higher levels if mid-tier whales continue their accumulation.
Diverging Whale Activity Signals Mixed Sentiment
On-chain data reveals a clear split between big whales and mid-tier holders. Big whales, holding over 1 billion DOGE each, sold significant amounts over the past two weeks. This selling activity removed around $700 million from Dogecoin’s market cap, pushing prices lower. Their actions highlight caution among the largest holders despite a rising trading volume.
Meanwhile, mid-tier whales, holding between 100 million and 1 billion DOGE , have been actively accumulating. Approximately 4.72 billion DOGE moved into these wallets recently. This buying suggests smaller whales see value in current levels, signaling confidence in short-term growth. The contrasting behavior between the two groups adds complexity to market predictions.
Dogecoin’s short-term price could reach $0.21, followed by $0.25 if buying momentum continues. However, failing to surpass $0.21 could allow further declines toward the $0.17–$0.165 zone. Traders should monitor these key levels for potential opportunities or risks.
Technical Indicators Highlight Potential for a Bounce
Analysts like Javon Marks suggest that maintaining long-term higher lows could push DOGE toward its all-time high of $0.73. That represents a potential 430% increase from the current $0.17 price. Historical patterns also hint at a bullish divergence from the RSI, which rises while prices fall. This setup has previously preceded strong upward moves.
Clusters of liquidity above $0.17 may create ideal conditions for a short squeeze. The recent move toward $0.175 came as short positions were forced to close. Liquidity between $0.175 and $0.185 remains crucial to breaking above the $0.21 resistance. These technical elements suggest that, while bears have been dominant, buyers may regain control if conditions align.
The Bull Bear Power indicator shows that buyers are attempting to step in, though their strength is limited. The market remains fragile, and failure to hold support levels could trigger further selling. Still, mid-tier whale accumulation could spark short-term rallies, creating opportunities for traders and investors looking for entry points.
Dogecoin trades below $0.20 after significant whale sell-offs and mixed market sentiment. Big whales sold $700 million, while mid-tier holders continue accumulating DOGE. Short-term targets include $0.21 and $0.25, with liquidity zones supporting potential rallies.
