Dogecoin News Today: Whales Offload 440M DOGE as Market Splits Between Panic and Accumulation

Dogecoin fell 5% to $0.18 on Tuesday, extending a month-long slump as bearish technical patterns and heavy whale selling intensified pressure on the meme coin. On-chain data revealed mid-tier holders offloaded 440 million DOGE in three days, signaling institutional distribution amid a fragile market structure, according to a TradingView report. The price breakdown below $0.18—a critical support level since October—triggered algorithmic liquidations and a 426% surge in trading volume, pushing DOGE to its lowest since the October 10 flash crash, Bitget reported. Analysts warned that further capitulation could send the token toward $0.07 if buyers fail to defend the $0.165–$0.185 range.

The selloff coincided with broader crypto weakness, as Bitcoin dipped below $100,000 and Ethereum's market cap dipped below $400 billion. Technical indicators confirmed a shift to distribution mode, with Dogecoin's 50-day EMA crossing below its 200-day EMA—a "death cross" pattern historically associated with prolonged declines, CoinDesk noted. On-chain outflows hit $22.27 million daily, while futures trading volume jumped 50% to $5.25 billion, reflecting widespread deleveraging, Bitget also reported.

Whale activity dominated the downturn. Large holders with 10 million–100 million DOGE sold off 440 million tokens in 72 hours, reducing their share of the total supply from 15.51% to 15.15%, according to the TradingView report. Meanwhile, ultra-whales with over 100 million DOGE increased their holdings to 19.46%, suggesting accumulation by long-term players. This divergence highlights growing uncertainty, with short-term traders exiting while larger investors remain bullish on a potential rebound to $0.26–$0.33 if support holds.

The bearish sentiment extends beyond Dogecoin. A Yale study attributed 67–83% lower Tesla sales to Elon Musk's political affiliations, including his $300 million donation to Republican candidates and role in Trump's DOGE initiative, a Carscoops article reported. While Musk has shifted focus to AI and robotaxis, the study suggests his controversial stances have permanently damaged trust among Democratic-leaning consumers—a demographic that overlaps with meme-coin enthusiasts.

Amid the downturn, investors are rotating into alternative projects. DeepSnitch AI, an AI-driven crypto analytics platform, surged 37% in presale as traders seek tools to navigate volatile markets, Cryptopolitan reported. Similarly, Maxi Doge (MAXI), a meme coin targeting "degen" traders, approached $4 million in presale funding, offering high-leverage trading incentives and community-driven rewards, CryptoDnes reported. Analysts argue these projects offer clearer utility than traditional memecoins, which now face a 25% crash risk as Fibonacci levels break down, Benzinga warned.

Dogecoin's near-term fate hinges on stabilizing above $0.18. A daily close above $0.21 could reignite bullish momentum, but sustained weakness below $0.165 risks a steep drop toward $0.07. With whale selling persisting and macroeconomic pressures weighing on crypto, the path of least resistance remains decisively lower for now.