Dogecoin fell 2.3% to $0.1827 during Tuesday’s trading session, decisively breaking below key support at $0.1830 as the whale distribution accelerated and long-term holders began exiting positions.
The decline came on the back of a deteriorating technical backdrop and increased sales activity across major wallets.
News background
DOGE fell from $0.1870 to $0.1827 across the 24-hour window, carving out a $0.0070 range that marked its third consecutive session with lower highs.
Summary of price action
The drop followed three failed recovery attempts above $0.1860, strengthening resistance at that level. The heavy distribution continued throughout the US trading window as algorithmic activity added to the selling pressure.
While short-term traders tried to defend $0.1830, long-term wallet data showed a sharp shift in behavior – a clear rotation from accumulation to liquidation.
On-chain measurements confirmed the move: 440 million DOGE were unloaded by mid-tier whales (with 10M-100M tokens) over a 72-hour period. Hodler’s net position change metric recorded 22 million DOGE outflows, a 36% reversal from previous accumulation trends and the biggest decline in nearly a month.
Technical Analysis
Dogecoin’s technical structure has turned into a confirmed bearish trend after breaking the $0.1830 support. A “dead cross” pattern between the 50-day and 200-day EMAs formed in late October, while the 100-day EMA is headed for a similar cross – both reinforcing the downside bias.
Cost base analysis places heavy liquidity between $0.177-$0.179, where around 3.78 billion tokens are concentrated. This area now represents the next critical defense zone for bulls.
Meanwhile, volume analysis highlights sustained institutional activity: The revenue increase of DKK 274.3 million. and the subsequent DKK 15.5 million. burst during the selloff suggests that the distribution may be entering its final phase before the potential base formation.
What traders should see
DOGE acts in a vulnerable position after the collapse. The $0.1830-$0.1850 band remains the immediate focal point, while failure to defend $0.177 could trigger a move towards $0.14 – the next meaningful pocket of liquidity.
Analysts warn that only a sustained pullback to $0.1860 accompanied by above-average volume would negate the current bearish setup. Until then, traders treat short-term rallies as exit opportunities rather than trend reversals.
Whale activity remains the main watchpoint: any sharp decline in the number of large transactions will signal the end of the distribution phase and the start of potential accumulation near cost-based support.
