Whales Buy 4.72B DOGE, Dogecoin Sinks Ahead of ETF Decision
Dogecoin plunged 7.42% to a multi-month low of $0.149, breaking its $0.155 support as trading volume jumped 18%. While bearish pressure dominated, on-chain data shows whales accumulated 4.72 billion DOGE (about $770 million) over two weeks. Exchange net inflows flipped positive for the first time in six months—historically a capitulation signal. Technical indicators reveal divergence, with rising RSI lows and weakening MACD downside momentum. Traders now watch the DOGE ETF Section 8(a) decision due in a week, eyeing the $0.150–$0.155 zone. Approval could drive Dogecoin to $0.162–$0.165, while a rejection or sub-$0.150 close may test $0.115–$0.085. Monitoring whale moves and net flows will guide short-term DOGE trading strategies.
Bullish
Heavy whale accumulation of 4.72 billion DOGE at distressed prices and positive exchange net inflows signal strong underlying demand and a potential price floor. On-chain divergence—rising RSI lows and weakening MACD downside momentum—indicates easing selling pressure. The upcoming DOGE ETF Section 8(a) decision adds a binary catalyst: approval could trigger a bullish breakout toward $0.162–$0.165, while rejection may still find support around $0.150–$0.155 as whales defend positions. Historical patterns show similar capitulation phases often precede recoveries, supporting a bullish bias.