- Whales offload 570 million DOGE, signaling widespread short-term holder capitulation.
- Retail wallets absorb sell pressure, helping Dogecoin stabilize near $0.15.
- Long-term holders increase positions, showing confidence despite fragile market conditions.
Dogecoin — DOGE, holds the line at $0.15 like a boxer leaning against the ropes, bloodied but standing. Over 570 million DOGE poured from large wallets this week, slipping into the market like a silent surrender. The on-chain signals show pain—each move reflects a loss taken, not a win. Yet somehow, the price remains steady, only down 1.5%. That’s not luck. That’s buyers showing up. But is this strength real—or just a pause before another drop?
Whales Flee, But Someone’s Catching the Bags
After the November rally, Dogecoin soared to $0.49. DOGE’s momentum didn’t last though. The recent pullback wiped out nearly all post-election gains, leaving the current price deep in the red—about 70% off the top. Short-term holders jumped in during the hype. Now many are either stuck or have exited near break-even. The 1–3 month group once held 17.47% of the supply. That number has now dropped to just 6.5%. This isn’t just a shift. That’s a mass exit. A key on-chain metric, the Spent Output Profit Ratio, turned negative. That means coins are being moved at a loss, not a profit.
The exit doors aren’t just open—people are rushing out. Whale addresses, once full of DOGE, dumped large chunks onto the market. Fear can be louder than greed, and lately, that fear has echoed across the charts. Despite the wave of capitulation, the price hasn’t cracked. Holding above $0.15 hints at an invisible force—maybe retail buyers or mid-level wallets—absorbing the damage. They’re not stopping the storm, but they’re slowing the flood.
The Faithful Are Still Buying
Not every player is giving up. Some holders remain steady, even bullish. Earlier this year, when Dogecoin pushed toward $0.41, a shift happened beneath the surface. Long-term holders began to accumulate again. The Hodler Net Position Change flipped green during the rally—a quiet but powerful sign of renewed confidence.
Since then, the 1–2 year wallet group increased holdings from 28% to 32%. That’s no fluke. That’s a group locking in for the long haul. Even more promising—retail wallets keep pulling DOGE from exchanges. Over 16 million tokens exited the spot market as the price pulled back to $0.14. Those withdrawals suggest quiet accumulation, not panic. While whales run, smaller players step up.
Like hands catching falling glass, buyers or bulls are doing the best to stop further cuts. But this balance remains fragile. Recovery won’t happen until the sell-side pressure fades completely. Buyers need to overpower the fear still lingering in the background. For now, $0.15 stands as a line drawn in the sand. If the bulls don’t step in soon, that line might wash away.
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