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

Dogecoin whales holding between 10 to 100 million DOGE have offloaded 440 million tokens in 72 hours, intensifying selling pressure. This large-scale distribution contributed to Dogecoin's price decline to $0.18 after weeks of losses. Whale transaction counts for holdings above $100,000 initially spiked but then sharply declined, indicating a shift to dormancy. Larger whales, owning over 100 million DOGE, increased their holdings during the same period, suggesting accumulation by bigger players. Mid-sized investors, with 100,000 to 10 million DOGE, maintained a stable position, showing neutrality. Despite the whale dumping, analysts remain optimistic about Dogecoin's price in the medium to long term. Analyst Ali Martinez identifies $0.18 as a critical support level, anticipating a potential recovery towards $0.26 and $0.33. Bitcoinsensus projects a potential 800% surge, suggesting a price target of around $1.70 in the current market cycle. This projection is based on historical cyclical uptrends and expanding momentum phases observed since 2023.