Dogecoin Whales Dump 3B DOGE, Price Sinks to $0.17 as Retailers Accumulate
Large Dogecoin wallets holding 10–100 million DOGE dumped over 3 billion coins in the past month, driving price down from $0.30 to $0.17. Santiment on-chain data shows sustained exchange inflows on Binance and Bybit, shrinking market depth and pushing DOGE perpetuals open interest to $1.48 billion—a March low. Thinning liquidity widened spreads in order books. Meanwhile, retail investors in wallets under 1 million DOGE have scooped up roughly 500 million coins, perhaps betting on a Musk-fueled rebound. Without fresh whale support or external catalysts, Dogecoin is likely to trade sideways amid market stagnation.
Neutral
Massive Dogecoin whale selling exerted downward pressure, driving price from $0.30 to $0.17. Reduced market depth and falling open interest point to low liquidity and trader caution. However, retail accumulation has provided a support floor, limiting further declines. In the short term, price could remain volatile within a tight range as traders assess market appetite. Over the long term, a lack of fresh bullish catalysts or renewed whale demand suggests that Dogecoin will likely trade sideways until new momentum emerges.