Dogecoin (DOGE) just witnessed a massive shake-up, as whale wallets holding between 10 million and 100 million DOGE offloaded more than one billion tokens over the past week, signaling growing caution among large holders as DOGE struggles to maintain momentum.
Key Takeaways:
- Whales sold 1B+ DOGE (worth around $165M).
- Selling came from wallets holding 10M-100M DOGE.
- Heavy distribution has historically preceded short-term volatility.
Major Holders Trim Positions as Market Softens
Indeed, Dogecoin’s largest investors have been cashing out, recording a sharp drop in whale holdings as large wallets shed more than 1 billion DOGE in seven days, according to the on-chain data shared by popular crypto trading analyst Ali Martinez in an X post on November 4.
Earlier, Techgaged reported on whales offloading as much as 440 million DOGE across just 72 hours amid Dogecoin struggling to hold key support and leaving traders to wonder if it was a warning sign or nothing more than another shakeout before the next leg up.
As it happens, this type of selling suggests big players may be locking in profits or taking a risk-off stance as broader market momentum cools. Additionally, the last time this size of distribution occurred, DOGE experienced choppy trading and a temporary pullback before stabilizing, suggesting possible volatility.
Notably, Dogecoin remains one of the most actively traded meme coins, and major shifts in whale activity often precede significant price swings rather than confirming long-term trend changes. Still, when deep-pocketed holders move in unison, it rarely goes unnoticed.
What Comes Next?
For the time being, DOGE is changing hands at the price of $0.1651, which indicates a 4.57% decline in the last 24 hours, a dip of 17.63% across the previous seven days, and an accumulated loss of 36.79% on its monthly chart, according to the most recent information.
All things considered, the price of the popular meme coin has softened alongside whale exits, but the next phase depends on whether new buyers step in to absorb supply, retail enthusiasm returns, and/or market sentiment shifts back toward risk-on.
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What do you think?
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