23 hours ago
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Dogecoin Whale Activity Drops To Lowest Level In Two Months
Recent data indicates that large Dogecoin holders have significantly reduced their on-chain activity, with whale transactions reaching their lowest level in over two months. Analyst Ali Martinez shared a Santiment chart showing DOGE's price against transactions exceeding $1 million, highlighting a stark decline since early October 2025.
Key Observations
- The largest spike in whale activity was on October 10, with over 280 transactions, followed by a decline to just 3 by November 29.
- Market analysts suggest this drop could indicate whales are either holding or exiting the market, both scenarios posing risks for liquidity and price stability.
- With low liquidity from big holders, even modest selling could impact prices significantly.
Support and Resistance Levels
- Martinez identified key levels for DOGE: support at $0.08 and resistance at $0.20.
- A Glassnode heatmap shows a dense supply cluster around $0.08, marking it as a major support zone.
- Another thinner band between $0.20103 and $0.20470 holds significant resistance.
The datasets present DOGE trading between a heavy cost basis near $0.08 and a resistance pocket around $0.20, while $1 million-plus transfers have dropped to a multi-month low. Currently, DOGE is trading at $0.137.
