Dogecoin Whales Buy the Dip as DOGE Hits 14-Month Lows

Published: 2026-06-10 07:25:54 |

Dogecoin (DOGE) is trading near fresh 14-month lows after a market-wide selloff. Whale tracking data shared by analyst Ali Martinez shows large holders added over 200 million DOGE in the past week, with total whale balances rising to about 18.84 billion DOGE. Price-wise, DOGE slid below $0.08 on Friday for the first time since February 2025, and only partially recovered to around $0.084 at the time of writing. Still, DOGE remains deeply depressed—about 89% below its May 2021 all-time high. Martinez warns DOGE could fall further if key on-chain/price metrics align with historical multi-year consolidation channels. He suggests the downside risk level is around $0.058 if a reported $0.081 floor breaks. Meanwhile, SoSoValue data indicates spot DOGE ETF demand remains weak: only one day showed inflows since May 19, and the three DOGE funds have attracted a total of about $12.44 million since late November 2025. For traders, the takeaway is mixed: whale accumulation may support dips, but the DOGE chart’s downside risk and lackluster DOGE ETF inflows keep near-term momentum fragile.

Neutral

Whale accumulation is typically supportive in the short run because large holders buy during drawdowns. However, DOGE is still pressing new 14-month lows and the article highlights a potential breakdown risk below the $0.081 floor, with a further target near $0.058. In the past, when price weakens while ETF inflows remain muted, dips can still extend even if whales are accumulating—buyers may be absorbing supply without immediately reversing the trend. So the likely market behavior is: (1) near-term volatility may stay high as traders react to whale flows and the $0.081 level; (2) any confirmation of a floor break would shift sentiment bearish despite whale buying; (3) longer-term, sustained whale accumulation could help stabilize price and set up a future rebound once broader market conditions improve. The lack of strong spot DOGE ETF demand removes an additional “funding bid,” making it harder for rallies to sustain quickly.