Dogecoin Traders Lose $225 Million in 24 Hours Amid Weakening Whale Activity

In the past 24 hours, Dogecoin traders have incurred a significant loss of $225 million, which is far greater than the $5.4 million in realized profits. This imbalance is the most severe among the top 10 cryptocurrencies. In contrast, Bitcoin recorded $2.2 billion in profits and $105 million in losses, while Ethereum maintained a positive 5:1 profit-to-loss ratio. The realized loss for Dogecoin is over 40 times higher than its realized profit, a figure that surpasses even the most volatile meme tokens. The network is currently operating in the Hope/Fear zone, with a Spent Output Profit Ratio (SOPR) of just 0.96, indicating that more users are selling at a loss than booking profit.

Whale activity and holder trends also show signs of weakness. The whale transaction count, both for transactions over $100,000 and over $1 million, has declined sharply since February, with only brief spikes in activity in May and June. This drop in large-volume trades suggests a decrease in significant price movements for Dogecoin. Additionally, the total number of Dogecoin holders has plateaued near 7.94 million after a steep rise in May, indicating waning retail interest and limited new wallet growth, which is often a leading indicator of mid-cycle exhaustion.

Technically, the Dogecoin price is trading within a descending triangle, a bearish continuation pattern. The price is repeatedly testing horizontal support between $0.153 and $0.157, while forming lower highs capped by a downtrend line. Unless buyers reclaim the $0.18–$0.195 zone convincingly, the structure favors a breakdown over a breakout. The Relative Strength Index (RSI) remains weak, hovering around 42, showing a lack of buying momentum. A drop below the triangle base could pull Dogecoin toward $0.145 or lower, while a break above $0.195 would invalidate the bearish setup and open a path toward $0.23.

Network activity adds to the pressure on the Dogecoin price. Daily active addresses have collapsed to just 120,000, down from several spikes above 700,000 seen earlier this year. This sharp drop in participation coincides with stagnant holder growth and declining whale trades, reducing the probability of a near-term rally. Unless network engagement improves, the Dogecoin price prediction will remain under pressure, with limited upside catalysts.

Overall, Dogecoin's short-term outlook remains fragile. The $225 million realized loss, weakening whale flows, low network activity, and a descending triangle pattern all suggest that the DOGE price may break support rather than recover. Bulls must reclaim $0.18+ with volume and activity to change the trend. Until then, the bias tilts bearish.