On-chain data I raised a red flag Some whale wallets cross the dogcoin ecosystem to drop their holdings at an incredible rate. According to Santiment data pointed out by Crypto analyst Ali Martinez, DOGE holders of 10 to 100 million offloaded more than 570 million coins in the past week alone.
Dogecoin whales struggle and quietly dump at a price of $0.155
Charts shared by Martinez Social media platform X shows a steady and sustained decline in whale holdings from April 10th to April 17th, 2025. This group of wallets, which holds 10 million tokens tokens, each plays a key role in price action due to their ability to move large quantities.
Considering the current price range for DogeCoin, the smallest owner of the cohort holds around 10 million tokens, currently worth around $1.58 million.
Over the past week, their total ownership has dropped from over 24.3 billion Doge tokens to 23.8 billion, with Dogecoin prices being sharply reduced from $0.165 to the current $0.155. This kind of movement suggests that these Dogecoin holders likely moved their tokens from self-storage to crypto exchanges.
If market sentiment weakens, the price impact could be extended
The distribution of whales can precede a strong market correction, especially if the volume of trading is not high enough to absorb a sudden influx of supply. The timing of this whale’s activity is also important. This is important given the fact that Dogecoin was consolidating near its main support zone of $0.155 after a failed attempt to maintain a breakout above $0.17 at the beginning of the week.
The most recent data shows that Instead of accumulating At these lower levels, some whale addresses have ended their position, suggesting their position Confidence in rebound can decline.
If this pattern of decline in whale retention continues to unfold in the coming days, Dogecoin could be there for a deeper fix, and the price could revisit the key support zone at $0.144. This low support retest is very important as whale accumulation is required here To get a rebound. If a rebound occurs within this range, Short-term bullish target In this case, you’ll be watching $0.1607 and another $0.1670.
Interestingly, this challenge is not limited to Dogecoin, as the broader crypto market has. I witnessed a sell-off From some whales from last week.
At the time of writing, Dogecoin was trading at $0.1584. Recent trading hours are characterized by short pushes above the $0.155 support zone.
Pexels featured images, TradingView charts
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