TL;DR
- Whales offloaded 680M DOGE, raising questions about short-term price direction and profit-taking.
- DOGE’s RSI sits at a key support level, which may offer price stability or a bounce.
- CleanCore boosts holdings to 600M DOGE, aiming for 1B amid rising institutional interest.
Large Holders Reduce Positions
In the last four days, wallets holding between 100 million and 1 billion Dogecoin have sold a combined 680 million DOGE. This shift was shared by analyst Ali Martinez, using Santiment data that tracked the movement of large holders. Wallets in this category saw their total balance fall from around 27.4 billion to 26.65 billion DOGE during this period.
Notably, this drop in holdings happened while DOGE’s price peaked around $0.3, followed by a pullback to $0.27. The timing points to large holders possibly locking in profits. While the exact motive remains unknown, large transactions like these often draw attention due to their size and potential to affect price direction.
Current Price Levels and RSI Position
As of press time, Dogecoin was trading close to $0.27. The 24-hour volume sits just above $3.84 billion. The token has seen a minor decline in the past day but is still up by over 10% across the past week.
Technical analyst Trader Tardigrade noted that DOGE’s RSI is now sitting at a key support level, similar to a zone that held in early September. At that time, the token began moving upward shortly after testing this area.
“If RSI support holds, downside momentum could be easing,” he said.
Another chart from CryptooELITES compares today’s market structure with earlier cycles in Dogecoin’s price. It shows two earlier setups where DOGE formed a rounded base before making strong upward moves. The current structure looks similar and sits at the same stage as those past rallies began. The chart includes a projected path toward $5.
Institutional Accumulation and Sentiment
MarketProphit data shows that both retail and internal sentiment metrics for Dogecoin are now reading bullish. This is happening alongside new buying activity from CleanCore Solutions, which added another 100 million DOGE to its reserves.
Meanwhile, the firm now holds over 600 million DOGE and is aiming for 1 billion in the short term. It has stated plans to reach a larger target of 5% of the token’s total supply. This level of accumulation by a single treasury has become a key point of interest among market watchers.
