{"id":41224,"date":"2025-02-03T12:23:30","date_gmt":"2025-02-03T12:23:30","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41224"},"modified":"2025-02-03T12:23:30","modified_gmt":"2025-02-03T12:23:30","slug":"dogecoin-whales-go-on-a-selling-spree-more-pain-ahead-for-doge","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41224","title":{"rendered":"Dogecoin Whales Go on a Selling Spree: More Pain Ahead for DOGE?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Large holders offloaded 270 million DOGE ($70M) in the last 24 hours, increasing supply and signaling potential further declines if demand doesn\u2019t keep up.
\nHowever, some analysts predicted a possible recovery based on DOGE\u2019s historical patterns.<\/p>\n

<\/a><\/span><\/h2>\n

DOGE Bleeds Heavily<\/h2>\n

Donald Trump\u2019s latest actions have <\/span>seemingly<\/span> had a crushing effect on the cryptocurrency sector.<\/span> Recall that the<\/span> US president imposed hefty tariffs on China, Canada, and Mexico, followed<\/a> by a brutal correction for most leading digital assets.<\/span>\u00a0<\/span><\/p>\n

The OG meme coin \u2013 Dogecoin (DOGE) \u2013 was among the worst affected, with its price falling to as low as $0.21 (per CoinGecko\u2019s data). As of this writing, it trades at approximately $0.25, a 16% daily decrease.\u00a0<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

While the bulls hope this will be a temporary correction that can be followed by another rally, some metrics suggest that the bears might prevail in the short term.<\/span><\/p>\n

The popular analyst Ali Martinez <\/span>revealed<\/span><\/a> on X that whales have sold 270 million DOGE (worth almost $70 million at current rates) in the last 24 hours. Actions of that type increase the circulating supply of the asset, meaning the price could head south (assuming demand <\/span>doesn\u2019t catch<\/span> up the pace). Additionally, smaller players might interpret this as a worrying sign and join the sell-off.<\/span><\/p>\n

Several hours ago, Martinez <\/span>noted<\/span><\/a> that DOGE experienced a bearish crossover between the Market Value to Realized Value (MVRV) ratio and its 30-day Simple Moving Average. According to him, this signals \u201ca steep price correction ahead.\u201d<\/span><\/p>\n

DOGE Price Predictions<\/span><\/h2>\n

Despite the crash, multiple market observers remain optimistic that the meme coin could return to the green track soon. One example is the X user Trader Tardigrade, who <\/span>envisioned<\/span><\/a> a <\/span>major<\/span> resurgence based on the asset\u2019s historical performance.<\/span><\/p>\n

\u201cIn the 2016 pullback, DOGE retraced 59.76%, followed by a +9,221% bull run. In the 2020 pullback, DOGE retraced 56.2%, followed by a +30,693% bull run. When in doubt, check the macro chart,\u201d the analyst said.<\/span><\/p>\n

KALEO and Crypto Tony <\/span>chipped in, too<\/span>.<\/span> The former <\/span>described<\/span><\/a> the current price level as \u201ca solid entry and practically free compared to where we\u2019ll see it a few months from now.\u201d\u00a0<\/span><\/p>\n

For their part, Crypto Tony <\/span>claimed<\/span><\/a> they are waiting for a potential push to $0.34 so they can hop on the bandwagon as an investor.<\/span><\/p>\n

The post Dogecoin Whales Go on a Selling Spree: More Pain Ahead for DOGE?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Large holders offloaded 270 million DOGE ($70M) in the last 24 hours, increasing supply and signaling potential further declines if demand doesn\u2019t keep up. However, some analysts predicted a possible recovery based on DOGE\u2019s historical patterns. DOGE Bleeds Heavily Donald Trump\u2019s latest actions have seemingly had a crushing effect on the cryptocurrency sector. Recall […]<\/p>\n","protected":false},"author":0,"featured_media":41225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41224"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41224"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41225"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}