Dogecoin News Today: Dogecoin Whales Sell 200M DOGE—Market Waits for ETF Rescue

Dogecoin (DOGE) is facing growing pressure as on-chain activity indicates large wallet holders are reducing their holdings. Over the past 48 hours, whales sold approximately 200 million DOGE tokens, a move that has sparked concerns among traders and analysts about potential price weakness. The token currently trades around $0.21, having fallen nearly 4% over the past week according to Coingecko data. Despite the sell-off, the price has yet to break key support or resistance levels, with $0.215 serving as a near-term support level and resistance hovering around $0.222–$0.224 [1].

The whale sell-off is not an isolated event. Large holders have been reducing their exposure since late July, a pattern that often precedes downward price movement. Technical analysis by trader Tardigrade highlights a weak bearish cross in the Ichimoku cloud on the daily chart, signaling potential for a bearish bias. The price remains within the cloud, which typically reflects indecision or consolidation. However, without a clear breakout or breakdown, the market remains in a holding pattern. A continuation of the current selling trend could test $0.19, a level that would represent a 15% drop from the current price [1].

The potential approval of the first Dogecoin ETF could serve as a catalyst for renewed bullish momentum. REX-Osprey submitted an ETF application under the 40 Act, which would allow investors to gain exposure to DOGE without direct token ownership. Bloomberg analyst Eric Balchunas noted that if approved, this ETF could be the first of several filings targeting DOGE, TRUMP, XRP, and BONK. However, the SEC’s approval process remains a key risk factor, with past delays adding uncertainty to the market’s expectations [2].

On-chain data also reveals a mixed picture. While some whales are offloading their holdings, others are accumulating, contributing to increased volatility. Technical indicators, such as the TD Sequential, suggest a potential reversal point, with a buy signal flashing after a recent top-out. This divergence between whale behavior and technical indicators points to a market in flux, where short-term selling pressure may be met with growing bullish sentiment [2].

Analysts have outlined potential price scenarios for Dogecoin based on technical patterns. A breakout above $0.225 with rising volume could open the door to $0.25 and eventually $0.30. Conversely, a failure to hold above the 200-day exponential moving average at $0.211 would increase the likelihood of a retest of $0.20. The market is closely watching open interest, funding rates, and whale flows to confirm the direction of the next move. Derivatives data shows $3.35 billion in open interest, with leveraged positions poised for either a short squeeze or a liquidation wave depending on the direction of the price [3].

In addition to the ETF filing, institutional adoption is also gaining traction. CleanCore Solutions recently announced a $175 million Dogecoin treasury initiative, backed by major investors and managed by 21Shares. The SEC’s 2025 decision to classify DOGE as a commodity has enabled corporations to hold it on balance sheets, a move that could lead to greater institutional interest. However, the market reaction to CleanCore’s announcement was mixed, with its stock dropping 60% due to concerns over DOGE’s inflationary supply and volatility [4].

Overall, Dogecoin sits at a crossroads between bearish selling pressure and potential institutional-driven bullish momentum. While whale activity and technical patterns suggest a near-term decline is possible, the approval of the REX-Osprey ETF and growing corporate adoption could provide the necessary catalyst for a rebound. Investors are advised to monitor key resistance and support levels, on-chain activity, and regulatory developments as the market navigates this critical phase.

Source: [1] Whale Panic? 200000000 DOGE and 50000000 ADA Sold ... (https://cryptopotato.com/whale-panic-200000000-doge-and-50000000-ada-sold-in-48-hours/) [2] DOGE Quo Vadis: ETF Nears and Whales Trade ... (https://beincrypto.com/doge-quo-vadis-etf-nears-and-whales-trade-aggressively/) [3] Dogecoin Price Watch: Is DOGE Set to Rally Toward $0.30? (https://investinghaven.com/crypto-blockchain/coins/dogecoin-price-watch-is-doge-set-to-rally-toward-030or-stall-near-022/) [4] Dogecoin ETF Buzz, Treasury Formation, and Volume ... (https://bravenewcoin.com/insights/dogecoin-doge-price-prediction-dogecoin-etf-buzz-treasury-formation-and-volume-surge-signal-major-breakout-ahead)