Dogecoin (DOGE) Price: Whales Scoop Up Billions While Price Tests Multi-Month Lows

TLDR

• Dogecoin price dropped from $0.160 to $0.149, breaking through the $0.155 support level
• Large investors accumulated 27.4 billion DOGE tokens at the $0.08 price range, showing strong buying interest
• Exchange net inflows turned positive for the first time in six months, historically signaling potential market bottoms
• Whale wallets absorbed 4.72 billion DOGE worth $770 million over two weeks despite falling prices
• Technical indicators show oversold conditions with RSI building bullish divergence against recent price lows

Dogecoin experienced a 7.42% price decline in the past 24 hours, falling from $0.160 to $0.149. The drop broke through a critical support level at $0.155 that had anchored the previous consolidation range.

Trading volume increased 18.39% above weekly averages during the selloff. The higher volume confirmed institutional participation in the price movement.

Despite the price decline, large investors have been accumulating tokens. Whale wallets absorbed 4.72 billion DOGE worth approximately $770 million over a two-week period.

On-chain data from Glassnode shows 27.4 billion DOGE accumulated at the $0.08 price level. This represents the highest concentration of support for the token according to cost basis distribution analysis.

The heatmap indicates high wallet density between $0.079 and $0.082. This cluster represents a strong support range where investors show confidence in the price level.

Exchange net inflows turned positive for the first time in six months. This structural shift has historically appeared near market bottoms in previous cycles.

Analyst Ali Martinez noted that similar inflection points preceded reversible capitulation phases in prior market cycles. The positive exchange flow represents a change from the extended period of net outflows.

As of Wednesday, DOGE price hovered at $0.158, showing a modest 0.53% increase. The MACD recorded a minor bullish crossing where momentum shifted toward buyers.

The histogram bars became positive, indicating initial strength. The RSI sat near the mid-40 range, showing neutral pressure in the market.

Technical analysis shows DOGE at a crossroads between breakdown confirmation and reversal potential. The collapse below $0.155 completes a descending triangle pattern, traditionally projecting continuation toward $0.145-$0.140.

However, counter-signals are building. Whale accumulation has intensified as price dropped, indicating strong hands stepping in against weak retail flows.

Momentum indicators support this divergence. RSI continues pushing higher even as price prints lower lows, and MACD’s bearish signals are rapidly fading.

If DOGE maintains support above $0.150, the price may attempt another move toward $0.170. A confirmed breakout above that zone could open a path toward $0.185 and later toward $0.20.

The broader crypto market remains in extreme fear, with sentiment at its lowest since April. Bitcoin’s technical patterns and risk-off conditions continue to pressure altcoins.

Traders are watching for a potential DOGE ETF decision under Section 8(a) within the next seven days. A reclaim of $0.155 is essential for negating the breakdown and reopening the path to $0.162-$0.165.

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