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It finally happened: the biggest Dogecoin holders just dumped over one billion DOGE coins in a single week, and the chart doesn't not need much explanation. Between late October and early November, wallets holding between 10 million and 100 million DOGE hit the market with some serious sell pressure.
The supply they control has dropped to about 22.9 billion DOGE, the lowest it has been since the middle of summer.
DOGE/USDT hit a roadblock at the $0.17 price point, dropping to $0.162 by Nov. 4. It is similar to what happened in March, with lots of bounces, failed attempts to retake $0.20 and then a decisive flush.
There is no outside trigger here — no Elon Musk tweet, no new exchange listing, no catalyst for memes. It is just a bunch of whales leaving the field while retail buyers keep trying to figure out where the bottom is.
Risks for Dogecoin (DOGE)
You can see this sell-off in every data layer. Santiment shows a drop in whale wallets, Binance order books show imbalances and volume spikes show these were not minor portfolio adjustments. It is full-scale off-loading. The last time we saw this kind of behavior was before DOGE went from $0.26 to $0.12.
Traders who have ve been keeping an eye on this range know what it means: once these wallets start to clear out, the market usually takes a break for a few weeks before bouncing back. For now, DOGE is at risk, with support around $0.15 the last recognizable structure before the psychological $0.10 zone.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team