Dogecoin News Today: Whale Exodus Sparks DOGE Freefall as $0.18 Support Crumbles

Dogecoin's price plunge below the critical $0.18 support level has intensified as institutional and whale activity confirms a deepening distribution phase. The memecoin fell to $0.1740 on Tuesday, marking a 1.3% decline against a backdrop of accelerated token offloading by mid-tier holders. On-chain data reveals 440 million DOGE tokens were liquidated by wallets holding 10–100 million tokens over 72 hours, reducing their collective supply share from 15.51% to 15.15%, according to a Coindesk analysis. This represents one of the largest short-term whale selloffs in recent months, exacerbating downward pressure on the asset.

Technical indicators reinforce bearish momentum. A "death cross" pattern formed between the 50-day and 200-day exponential moving averages (EMAs) in late October, with the 100-day EMA nearing a similar cross, according to Yahoo Finance. Price action has also carved a sequence of lower highs, failing to reclaim resistance at $0.1870 despite three recovery attempts. Volume analysis highlights a 44% surge in trading activity above seven-day averages, with a $26.8 million whale transfer to Binance coinciding with the session's heaviest volume spike, per a Yahoo report. Analysts warn that sustained trading below $0.18 could trigger a cascade toward $0.07, where 18.6% of total supply (28.3 billion DOGE) is concentrated.

The breakdown has diverged sharply from broader market strength, as Bitcoin and major altcoins posted gains. DOGE's underperformance against the CD5 index widened by over 2% during the 24-hour window. Whale behavior further underscores structural weakness: large transactions exceeding $100,000 surged to 119 on October 30 before collapsing to just 15, signaling a rapid shift from active distribution to dormancy, according to Blockonomi. Meanwhile, top-tier holders with over 100 million DOGE have increased their supply share to 19.46%, suggesting strategic accumulation amid the selloff, per a TradingView report.

Traders are closely monitoring whether bulls can defend the $0.18 level, which serves as the lower boundary of an ascending channel established since mid-August. A sustained rebound above $0.1860 with above-average volume could negate the bearish setup, but current sentiment remains defensive. Analyst Ali Martinez noted that "failure to hold $0.18 risks a drop toward $0.07, while a successful defense could ignite a recovery to $0.26 or $0.33." Derivatives data shows futures open interest has declined 61% from October highs, indicating leveraged participants have largely exited.

Upcoming catalysts include $17.8 million in DOGE unlocks scheduled for late November, per Coinpedia, which could introduce additional short-term volatility. Broader macroeconomic factors, including the U.S. Federal Reserve's policy trajectory, may also influence risk appetite. For now, DOGE remains in a fragile technical environment, with traders treating rallies as exit opportunities rather than trend reversals.