{"id":58166,"date":"2025-04-10T06:29:17","date_gmt":"2025-04-10T06:29:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=58166"},"modified":"2025-04-10T06:29:17","modified_gmt":"2025-04-10T06:29:17","slug":"dogecoin-whales-offload-billions-of-tokens-further-price-crash-incoming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=58166","title":{"rendered":"Dogecoin Whales Offload Billions of Tokens: Further Price Crash Incoming?"},"content":{"rendered":"

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

Large investors parted with almost $200 million worth of DOGE in the last two days.<\/span>
\nTheir actions could lead to panic among smaller players and set the stage for a further price decline for the meme coin.<\/p>\n

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

Whales Are Cashing Out<\/h2>\n

The latest crash of the cryptocurrency sector did not spare Dogecoin, whose price tanked to as low as $0.13 on April 7. <\/span>This<\/span> was the lowest point observed since October 2024. In the following days, the meme coin experienced a minor resurgence and currently trades at roughly $0.14 (per CoinGecko\u2019s data), representing a 16% plunge <\/span>on a weekly basis<\/span>.
\n<\/span><\/p>\n

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

Amid the downfall in the past 48 hours, large investors <\/span>dumped<\/span><\/a> 1.32 billion DOGE.\u00a0The stash equals over $190 million (calculated at current rates).\u00a0<\/span><\/p>\n

According to Ali Martinez, whales (those who hold at least one million tokens) now hold around 70.5 billion DOGE or approximately 47% of the meme coin\u2019s circulating supply.\u00a0<\/span><\/p>\n

The whales\u2019 selling spree increases the amount of tokens in circulation and could be followed by a further price retreat if demand remains the same or weakens. <\/span>Furthermore, their actions could trigger panic within the community, prompting smaller investors to sell as well, <\/span>which would intensify the downward pressure on the price.<\/span><\/p>\n

DOGE ETP Fails to Reverse the Trend<\/span><\/h2>\n

Earlier today (April 9), the leading issuer of crypto exchange-traded products 21Shares <\/span>introduced<\/span><\/a> a Dogecoin ETP which will be listed on the SIX Swiss Exchange (ticker: DOGE) The <\/span>launch of the financial instrument<\/span> comes after an exclusive partnership with the House of Doge.<\/span>\u00a0<\/span><\/p>\n

The company behind the product explained that 21Shares Dogecoin ETP\u00a0is\u00a0100% physically backed, \u201coffering a\u00a0transparent and seamless way\u201d for investors to gain exposure to the asset through traditional financial channels.<\/span><\/p>\n

DOGE registered little-to-no price movements on the news and remains deep in red territory. Perhaps launching a spot Dogecoin exchange-traded fund (ETF) will have a more positive impact.\u00a0<\/span><\/p>\n

Bitwise and Grayscale are among the prominent firms that intend to introduce this type of investment vehicle. <\/span>According<\/span><\/a> to Polymarket, the likelihood of approval by the end of 2025 is currently around 64%.<\/span><\/p>\n

The post Dogecoin Whales Offload Billions of Tokens: Further Price Crash Incoming?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Large investors parted with almost $200 million worth of DOGE in the last two days. Their actions could lead to panic among smaller players and set the stage for a further price decline for the meme coin. Whales Are Cashing Out The latest crash of the cryptocurrency sector did not spare Dogecoin, whose price […]<\/p>\n","protected":false},"author":0,"featured_media":58167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58166","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\/58166"}],"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=58166"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/58167"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}