Dogecoin Breaks Support as Whales Exit and Bearish Momentum Deepens
Dogecoin (DOGE) fell 2.3% to $0.1827 on Tuesday, slipping below key technical support at $0.1830 amid a surge in selling from large wallets and long-term holders exiting their positions.
The memecoin has now logged three consecutive sessions of lower highs, as failed recovery attempts above $0.1860 confirm growing resistance at that level. Market participants report increased algorithmic activity during U.S. trading hours, amplifying sell pressure and accelerating the downtrend.
Whales Drive the Decline
On-chain data highlights intensified distribution among major holders. Mid-tier wallets holding 10 million–100 million DOGE offloaded about 440 million tokens over the past three days, according to blockchain metrics.
The Hodler Net Position Change indicator recorded 22 million DOGE outflows, marking a 36% reversal from the prior accumulation trend — the largest shift in nearly a month. Analysts say this move signals a broad transition from long-term accumulation to liquidation.
Technical Outlook Turns Bearish
DOGE’s technical picture has weakened following the loss of $0.1830 support. A “death cross” between the 50-day and 200-day EMAs emerged in late October, and the 100-day EMA now appears set to follow — reinforcing downside bias.
Heavy liquidity is clustered between $0.177–$0.179, where roughly 3.78 billion DOGE are concentrated, making it the next critical defense zone. Volume spikes — including a 274 million DOGE turnover followed by a 15 million burst — indicate strong institutional activity, potentially signaling the final phase of distribution before a base forms.
Key Levels to Watch
Analysts identify the $0.1830–$0.1850 range as DOGE’s immediate pivot zone. Failure to hold $0.177 could open a move toward $0.14, the next major liquidity area.
A sustained recovery above $0.1860, coupled with rising volume, would be required to invalidate the bearish setup. Until that occurs, traders continue to treat rallies as short-term exits rather than signs of reversal.
Market watchers are focused on whale transaction counts as a key signal — a drop in large transfer activity would likely indicate the end of the current distribution phase and potential re-entry by long-term buyers.
