Dogecoin’s price has failed to sustain its recovery momentum, slipping below the $0.200 mark amid rising bearish pressure. The meme coin leader is showing signs of weakness following a sharp decline in market sentiment.
Technical indicators suggest that the downtrend could deepen in the coming days as selling pressure builds.
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Dogecoin Whales Move To Sell
Dogecoin’s Exponential Moving Averages (EMAs) have now formed a Death Cross — a bearish technical signal that typically marks the end of extended bullish trends. This crossover occurs when the 50-day EMA falls below the 200-day EMA, confirming the loss of upward momentum. The event ends nearly three months of positive sentiment for DOGE.
The Death Cross signals that Dogecoin may face heightened vulnerability to broader market bearishness. As investor confidence weakens, volatility could increase, pressuring the price further.
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Whale activity adds to the growing bearish tone. Data shows that large Dogecoin holders have begun offloading significant amounts of their assets. In the past week alone, whales have sold approximately 1.05 billion DOGE, worth over $180 million.
Whales holding 10 million–100 million DOGE started selling on October 27, reducing their stash by 800 million DOGE. The larger 100 million–1 billion DOGE cohort began selling yesterday, trimming holdings by another 250 million DOGE.
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Such large-scale sales often weigh heavily on price action and investor confidence.
This selling activity suggests whales may have lost patience with Dogecoin’s prolonged sideways movement. Their exits often precede broader market corrections, and the scale of recent liquidations indicates declining long-term conviction.
DOGE Price Under Duress
At the time of writing, Dogecoin’s price sits at $0.185, holding just above its immediate support level. However, the bearish signals from both EMAs and whale behavior suggest a continued slide may be ahead.
If momentum weakens further, Dogecoin’s price could drop to $0.175 or even $0.165. This decline may trigger panic selling among retail traders, intensifying market losses and delaying any potential recovery.
Alternatively, a swift rebound could see Dogecoin reclaim $0.199 and potentially breach $0.209. Such a move would invalidate the bearish thesis and restore some investor confidence, signaling renewed market participation and short-term stability.
