DOGE Faces Bearish Pressure as Whales Dump $92.5 Million in Dogecoin
Dogecoin (DOGE) has recently come under significant selling pressure as large holders, often referred to as ’whales,’ offloaded 570 million coins worth $92.5 million last week. This massive sell-off has contributed to a 2% weekly decline, reinforcing bearish sentiments in the market. Currently, DOGE is among the worst-performing cryptocurrencies, with a year-to-date drop of nearly 49%. The meme coin, which once reached a high of $0.41 in mid-January, continues to struggle, showing little signs of recovery. As of April 22, 2025, the outlook for DOGE remains uncertain, with traders closely monitoring whale activity and broader market trends for potential price movements.
Whales Dump $92.5 Million Worth of Dogecoin: How Will DOGE Trade Next?
Dogecoin whales have dumped a total of 570 million coins last week worth a staggering $92.5 million. The leading meme currency dipped close to 2% in a week and is attracting bearish sentiments. It is now among the worst-performing cryptocurrencies in the digital assets market with little to no price spurts. Doge has dipped close to 49% year-to-date and is only sliding south in the charts. It had reached a high of $0.41 mid-January but plummeted afterward.
Dogecoin Turns 4: ‘Dogeday’ Party and ETF Buzz
Dogecoin enthusiasts celebrated ’Dogeday’ marking the fourth year of expansion for the meme cryptocurrency. Started as a joke in 2013, Dogecoin now has a market capitalization of $23.3 billion, attributed to its robust community. The coin introduces around 5 billion new coins annually, maintaining low entry fees.
Dogecoin Stalls After 42 Days of Flat Price Action
Dogecoin’s price has been stagnant for almost a month and a half, with the last decisive move being a sell-off six weeks ago. The memecoin’s price has compressed into a narrow band, threatening to lose structural support. Momentum remains weak, with the key Fibonacci retracement level at $0.138 acting as a critical support zone.
Potential Returns if Dogecoin Hits $1
Investing $250 in Dogecoin today could yield significant returns if the meme coin reaches $1. Dogecoin, the first meme cryptocurrency, has yet to hit the $1 mark, with its all-time high being $0.7376. In the past 24 hours, Dogecoin traded between $0.1527 and $0.1626, marking a 4.60% rise. At the time of processing, Dogecoin was trading at $0.1611.
