DOGE Price Analysis: Dogecoin Plunges 8% as Price Action Points to Bounces
Dogecoin dropped 8% to $0.1697 after whales sold $440 million, confirming a bearish structural breakdown below $0.18.Summary
Dogecoin (DOGE) plummeted 8% to $0.1697, driven by a surge in trading volume and the distribution of approximately $440 million in tokens by large holders ("whales"). This decline confirmed a significant structural failure below the $0.18 support level, which had been defended since early October, signaling sustained institutional selling pressure across the meme-coin sector. Technical indicators show the Relative Strength Index (RSI) dropping near oversold territory, suggesting potential for a brief relief rally. However, analysts caution that stabilization above $0.165 is critical for recovery, and a daily close above $0.18–$0.185 is necessary to neutralize the current bearish momentum, with near-term volatility expected to remain skewed to the downside.
(Source：CoinDesk)