Dogecoin Drops 6.592% Amid Long-Term Holder Selling

Dogecoin's latest price was $0.2317, down 6.592% in the last 24 hours. The cryptocurrency has once again captured the attention of the crypto community, breaking out of its recent downtrend and signaling a potential start to an Altseason. Historically, significant pumps in Dogecoin have been followed by surges across the altcoin market, driven by increased speculative interest and improved market sentiment. This phenomenon often leads to a flow of capital from large-cap coins like Bitcoin and Ethereum into smaller, high-risk, high-reward altcoins.

Dogecoin’s recent surge has stirred excitement in the crypto community, yet the heavy selling from long-term holders reveals underlying tensions. As market dynamics shift, Dogecoin faces a pivotal moment, with critical support levels being tested that could dictate future price movements. The recent surge has not eased concerns about long-term investor liquidation, which could lead to significant market volatility.

Despite a remarkable 36% price increase recently, Dogecoin finds itself at a crossroads as long-term holders begin to significantly offload their positions. The latest metrics reveal that this selling action is the most intense observed since mid-2021, which could usher in increased market volatility. This shift among long-term holders is particularly alarming for market observers, as their actions often precede larger trends within the cryptocurrency sector. As these foundational investors liquidate, it raises red flags regarding the sustainability of the recent uptrend.

Dogecoin’s recent surge has been driven by a new wave of bullish momentum among retail and institutional traders. Technical indicators, such as the MACD (Moving Average Convergence Divergence) crossover on the weekly timeframe, have historically signaled massive price increases for Dogecoin. The latest analysis from popular crypto chartist Trader Tardigrade has brought attention to a possible inflection point, where the MACD line crosses above the signal line, coinciding with the beginning of powerful uptrends since the current cycle began in Q4 2023.

According to Trader Tardigrade’s chart, the last two confirmed MACD crossovers on the weekly timeframe led to rallies from $0.06 to $0.23 and from $0.086 to $0.48, respectively. Each of these rallies followed a period of deep corrections, conditions similar to what Dogecoin has witnessed since March 2025. The first MACD crossover in this cycle was in October 2023, which resulted in a 285% rally. The second MACD crossover was in September 2024, which led to an even bigger rally of about 460%, during which Dogecoin surged to multi-year highs of $0.48.

The chart also reveals that these MACD crossovers occurred after a rounded bottom pattern. The current price structure looks like that setup, with a higher low rounded bottom and the blue MACD line about to cross to the upside of the orange line. This lends strong credence to the notion that Dogecoin could be on the cusp of another rally, particularly as the overall crypto market sentiment is now positive following Bitcoin’s break above $100,000 again.

Now that the MACD crossover is almost underway, the obvious question is whether this can cause Dogecoin to finally reach the elusive $1 mark. The projected $1 target lies on a long-term ascending resistance trendline that guided the $0.23 and $0.48 tops this cycle. If the pattern holds, and Dogecoin’s MACD crossover plays out as it has in the past, the meme coin might be currently at the start of a third impulsive move. The analyst’s chart draws a projected trajectory that extends toward $1 by mid-year, following a path similar to the other rallies. Achieving the $1 target would require a price surge of about 335% from current levels around $0.23.