Dogecoin Whales Go Silent! Major Shift in Activity – What’s Next for DOGE?

Dogecoin Price Forecast: Whale Transactions Plunge 70%, Bearish Momentum Strengthens
Dogecoin (DOGE) continues its downward trajectory, slipping to $0.24 after a 7% decline last week. With momentum indicators flashing bearish signals and whale transactions plummeting, the meme coin faces a challenging path ahead.

DOGE Whale Activity Crashes Amid Price Slump

Dogecoin has suffered a 30% decline since mid-January, struggling to regain bullish momentum. New data from Santiment reveals a sharp drop in large whale transactions, reinforcing the bearish outlook.

• Weekly transactions exceeding $100K have plunged from 20,200 to 6,200 since early November.
• Transactions over $1 million have also nosedived from 3,490 to 850 in the same period.

The substantial decrease in whale activity suggests reduced accumulation and declining investor confidence, adding further selling pressure on DOGE.

Technical Indicators Confirm Bearish Trend

DOGE’s recent price movement aligns with key technical indicators signaling continued weakness:

• Support Levels: The price has fallen below the 50% Fibonacci retracement level ($0.27), raising the likelihood of a drop to $0.18 if the downtrend persists.
• RSI Indicator: The Relative Strength Index (RSI) stands at 48, below the neutral 50 mark, suggesting increasing bearish momentum.
• MACD Crossover: The Moving Average Convergence Divergence (MACD) shows a bearish crossover, reinforcing the potential for further downside.

Can DOGE Recover?

For Dogecoin to regain strength, it must reclaim key resistance levels and attract renewed whale interest. Without increased buying pressure, further corrections remain likely. Traders should watch for signs of accumulation and monitor support levels at $0.18 to assess potential reversal opportunities.

Stay tuned for the latest market updates as Dogecoin navigates this volatile phase.