Dogecoin Drama: Whales Scoop Up BILLIONS as Price Tanks – Here’s the Inside Scoop

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Dogecoin is having a rough time, folks. With whales scooping up a jaw-dropping 4.72 billion DOGE, this coin is clearly gearing up for some serious action-too bad it’s mostly crashing first. 😬

In case you missed it, Dogecoin just hit new multi-month lows, thanks to a sudden intraday dip that shattered a key technical floor. But hey, on-chain indicators are looking up-so there’s that! It’s like finding a silver lining in a storm cloud made of crypto crash debris. 🙄

So, the market’s in a bit of a mess. The price is in freefall, but that’s when the whales come swimming in. A rare disconnect between price action and exchange flows is happening, and guess who’s taking advantage? The big players, that’s who. 🙄💸

In the last 24 hours, Dogecoin dropped 7.42% to 0.149, breaking through the key 0.155 support level like a kid running through a glass door (unintentional but not pretty). Volume spiked 18%, meaning it’s not just your average retail investor flipping coins-this is big money moving in. 🐋💰

DOGE breaks support as flows flip

So, let’s break this down: the selloff sent Dogecoin straight into the 0.5 Fibonacci retracement zone, aka “the dreaded land of broken dreams.” It also plopped the price right at the bottom of a year-long descending triangle. Someone cue the sad trombone. 🎺

But wait-there’s a twist! Even though the price dropped, momentum indicators started to look a little… better? Relative strength was inching upwards, despite DOGE hitting new lows. It’s like the coin is trying to be optimistic while it’s still in freefall. 🙃

In a stunning turn of events, exchange net flows on DOGE turned positive for the first time in months. This, my friends, is the signal that buyers might be showing up-maybe? Usually, this happens near the bottom. So, could this be the start of something new or just another tease? 🤔

CoinDesk points out that inflows into exchanges have turned positive, signaling a potential reversal. This trend typically happens after major drops, like when you’ve eaten too much pizza and then find the strength to get up and go for more. 🍕

To make things even spicier, the general crypto market is also in panic mode, and sentiment is somewhere between “We’re doomed” and “Maybe just one more chance.” 🏃‍♂️💨

Related Reading: Dogecoin News: Dogecoin Targets $0.17: Early Signs of Bullish Reversal Spark Curiosity

Whales load 4.72B DOGE as ETF window nears

And now, here’s where it gets real juicy: in the last two weeks, whales have gobbled up 4.72 billion DOGE. That’s a cool $770 million at today’s prices, folks. Why? Because prices are down, and the big dogs are scooping up those coins like it’s Black Friday. 🛒🐋

As Coindesk reports, this kind of buying spree usually happens when the “strong hands” take over, and the little guys are left crying over their crypto portfolios. It’s a beautiful thing if you’re one of the whales, but for the rest of us… not so much. 😬

This accumulation is also a major factor in the price and positioning mismatch happening right now. If you’re tracking both Web3 and on-chain flows, things are getting interesting. 🤨

Meanwhile, there’s a potential Dogecoin exchange-traded fund (ETF) ruling that could drop next week. If it does, it’s going to be a massive binary catalyst, likely sending the market either soaring or crashing-because that’s how crypto rolls. 🤞

There are three price zones traders are eyeing: 0.155 to recover from the breakdown, 0.149-0.150 to stop the bleeding, and 0.145-0.140 to keep the whole thing from going full meltdown mode. Good luck, everyone. 😅

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2025-11-21 09:49