Whale Alert in Dogecoin! Millions of Dollars of Sale! What Does It Mean? Here Are the Details

While Dogecoin (DOGE) has been consolidating just below the $0.26 level in recent days, the sales made by whales are drawing attention.

Dogecoin Continues to Maintain Bullish Structure: Whales Sold $40 Million Worth of DOGE, Is a New Bounce Imminent?

According to on-chain data, 170 million DOGE, or roughly $40 million worth of tokens, have changed hands in the past few days. This development may indicate that the market is preparing the ground for a possible upward breakout.

Technical Outlook: A Healthy Correction?

Dogecoin is still maintaining a strong bullish structure despite experiencing an 18% pullback since its local peak on May 11. The price action has formed a structure similar to a classic “bull flag” formation following the rally that began in early April.

Analysts predict that the current consolidation is a healthy correction and that DOGE could bounce to the $0.35 to $0.45 range in the next 7 days. These targets imply a potential gain of 52% to 114% from the current price level.

Technical Analysis Highlights

• DOGE formed an upward channel, showing an uptrend between $0.222 and $0.228. The critical support level is positioned in the $0.218–$0.219 range.
• Selling pressure was observed in the $0.233–$0.234 area, which stands out as a key resistance area.
• The rapid pullback from the daily top suggests that short-term consolidation may continue, but the overall structure is still supported by higher lows.
• In recent hours, DOGE fell from $0.233 to $0.227, a 2.57% correction.
• There were several attempts to find support in the $0.227–$0.228 range, which suggests that traders are watching these levels closely.

The Role of Whales

Although large-scale selling by whales usually causes short-term volatility in the market, such movements can also be interpreted as a harbinger of the next rally.

The fact that technical structures are giving positive signals and the general market sentiment remains strong supports the expectation of a potential bounce for Dogecoin.

The next week could be critical for Dogecoin traders as whether the price can break the $0.26 resistance will determine the direction of the next major move.

*This is not investment advice.

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