- Whale wallets shed 570M DOGE, triggering price volatility and resistance.
- DOGE trades below the key moving average, signaling short-term bearish momentum
At press time on April 18, 2025, Dogecoin is trading near $0.1567, reflecting ongoing price stagnation. Over the past 24 hours, the coin has dipped 0.80%, with trading volumes shrinking to $496.67 million.Â
Source: Coinmarketcap
DOGE has failed to break key resistance levels, hovering in a narrow range. Recent whale movements suggest growing caution as major holders reduce their exposure.
Whale Wallets Shed 570 Million DOGE Over Seven Days
On-chain data indicates a steep drop in Dogecoin holdings by large wallets. According to crypto analyst Ali Martinez, addresses holding between 10 million and 100 million DOGE unloaded more than 570 million tokens between April 7 and April 17. This sell-off coincided with a period of sideways price action.
Martinez noted that the consistent reduction in these wallets likely points to coordinated offloading. The activity aligned with DOGE’s price hovering near $0.15, which has acted as short-term resistance. The price briefly rose to $0.1581 during the day but quickly retraced, suggesting weak buying pressure.
As the offloading intensified, DOGE’s price range narrowed, with increased volatility noted on the charts. Analysts interpreted the move as part of a broader market hesitation, likely driven by capital rotation and uncertain sentiment across altcoins.
Whale Accumulation Seen Earlier in April
While mid-tier wallets have been reducing holdings, top-tier whale wallets showed a different trend earlier in the month. Between April 10 and April 12, addresses holding over one billion DOGE added more than 800 million tokens. Martinez reported that this accumulation phase corresponded with a brief price recovery, which saw DOGE highs above $0.164.
Santiment data showed these top wallets reached 72.88 billion DOGE, marking the month’s most significant two-day net inflow. Analysts tracking wallet activity described the move as a short-term vote of confidence, though it was not sustained by broader market participation.
This accumulation preceded the recent drawdown, suggesting profit-taking might have followed. Despite the inflow, trading volumes and retail engagement remained muted, limiting any sustained upward push in price.
Bearish Technicals Confirm Weak Momentum
Technical indicators support the bearish short-term outlook. As of April 18, DOGE trades at $0.1548, slightly below its 20-day simple moving average of $0.1598. Data from TradingView shows the price has formed a series of lower highs and lower lows since February.
Dogecoin 1-Day Chart Source: TradingView
Bollinger Bands are tightening, with the upper band at $0.1758 and the lower at $0.1438. This suggests shrinking volatility and signals a potential breakout, though the direction remains uncertain. Current price action remains below the middle band, confirming sustained downward pressure.
The daily trading range, between $0.1561 and $0.1535, reflects low participation. Volume stands at just 7.06 million DOGE, a notable drop that signals limited interest from retail and institutional players.
Dogecoin’s price dip appears tied to recent whale behavior, technical weakness, and fading momentum. While top-tier wallets showed some optimism earlier in April, mid-tier holders have since reversed that sentiment by unloading hundreds of millions in DOGE. The price remains between $0.1438 and $0.1598, with no clear breakout.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
