Dogecoin News Today: Whale Exodus and Weak RSI Signal Dogecoin's Bleak Crossroad

Key metrics for Dogecoin (DOGE) indicate heightened bearish sentiment among large holders, with whales offloading significant portions of their DOGE holdings amid a declining price. The onchain data reveals a 6% decrease in wallets holding between $10–$100 million DOGE since late July, according to Santiment, highlighting a de-risking strategy by major stakeholders. A recent transfer of 900 million DOGE, valued at over $200 million, was moved to Binance, further signaling short-term selling pressure. These movements often reflect a lack of confidence in immediate price recovery and raise concerns about continued downward trends.

Technical indicators also point to bearish momentum. Dogecoin’s price is forming a rising wedge pattern, a bearish reversal formation that could lead to a 45% drop to $0.12 if the support level at $0.218 is breached. A breakdown would likely trigger further declines, as bulls appear to be losing control. The relative strength index (RSI) has fallen from overbought conditions at 85 to 49, suggesting that bearish pressure has been building. The coin must hold above the $0.19–$0.20 zone or the 100-day and 200-day moving averages to avoid further losses toward $0.16.

Derivatives data further underscores waning speculative interest. Futures open interest in DOGE has dropped to $3.24 billion, down from a peak of $5.35 billion in late July. This 8% decline indicates fewer traders are positioning for short-term price increases, and the broader market is becoming less bullish. On-chain data from Glassnode also shows a sharp drop in daily active addresses, from a peak of 1.65 million in Q4 2024 to just 58,000 in recent days. This signals weak network engagement and potentially waning retail interest in DOGE.

Despite these bearish signals, there is still accumulation activity from large holders. On-chain analysis shows that whales have added over 680 million DOGE in August, indicating some long-term confidence in the token’s potential despite current technical weaknesses. However, the balance between whale accumulation and retail distribution remains a key factor in determining DOGE’s near-term trajectory. A sustained bounce above $0.23 would be required to regain bullish momentum and challenge the $0.25 resistance level, where previous rejections have occurred.

Analysts continue to watch closely for a breakout or breakdown from the current range-bound consolidation. A successful rebound could lead to a test of $0.25, while a failure to hold key support levels could extend the decline to the $0.200 range. Meanwhile, broader macroeconomic factors, including trade policy developments and central bank commentary, continue to influence investor sentiment in the crypto market. These external pressures add to the uncertainty surrounding DOGE’s near-term price action and may amplify volatility in the coming weeks.

Source: [1] Dogecoin whales de-risk as DOGE price dropping 45 percent (https://cointelegraph.com/news/dogecoin-whales-de-risk-doge-price-dropping-45-percent) [2] Dogecoin Whale Empties Binance: 52.9 Million DOGE Leave World's Largest Crypto Exchange (https://u.today/dogecoin-whale-empties-binance-529-million-doge-leave-worlds-largest-crypto-exchange) [3] Dogecoin Price Crashes 5% After Another Failed Breakout (https://finance.yahoo.com/news/dogecoin-price-crashes-5-another-125406604.html) [4] DOGE Futures OI Slides 8% Even as Fabled 'Golden Cross' Intact on Higher Timeframes (https://www.coindesk.com/markets/2025/08/25/doge-futures-oi-slides-8-even-as-fabled-golden-cross-intact-on-higher-timeframes) [5] Dogecoin Jumps to 21-Cents Despite $200M Whale Transfer to Binance (https://www.coindesk.com/markets/2025/08/26/dogecoin-jumps-to-21-cents-despite-usd200m-whale-transfer-to-binance) [6] Dogecoin Price Prediction: Analyst Claims 2021 Chart Pattern Repeating in a Surprising Place (https://www.mitrade.com/insights/news/live-news/article-3-1069648-20250826)