Declining Whale Activity & Death Cross to Slow Down Dogecoin Price Rise To $10?

Dogecoin (DOGE) price has seen a sharp drop in whale transactions and a bearish technical signal, raising questions about its price outlook.

While some analysts foresee a downturn, others see potential for a majorrally if key levels are broken.

Whale Activity Drops 88% Since November

An analysis of blockchain network activities reveals that major holders are less interested since large DOGE transactions experienced substantial drops.

Since November, mid-month crypto analyst Ali observed a reduction of nearly 88% in whale transaction numbers.

According to IntoTheBlock data, the number of whale activity transactions above $100,000 reduced by 25.68% to 30.45 billion in a week, while the number of transactions exceeding $1 Million fell from 680 to 25.

Additionally, market whales now execute an average of 2.42 million tokens per week, while the total transaction volume stands at $100 Million to $200 Million instead of the previous $5.75 Billion level.

– Advertisement –

The reduction of whale activity in Dogecoin occurred during times when its value experienced price volatility. The value of DOGE dropped from $0.476 to $0.267 between November 2024 and February 2025.

Analysts suggest large holders are either disposing their Dogecoin holdings or delaying investment for enhanced market conditions.

The price fluctuation patterns could be affected by whale behavior changes because fresh accumulation from whales might indicate market recovery.

Death Cross Signals Possible Price Drop

The DOGE bears are actively present based on technical market metrics because its MVRV ratio remains under the 200-day moving average.

Historical data reveals that “death cross” patterns trigger market value declines from 26% to 44%.

At its current value of $0.266, DOGE faces additional price decrease potential based on current trend patterns.

However, analysts like Trader Tardigrade still maintain positive forecasts, viewing the present price as a short-term pause before the uptrend continues.

The analyst notes that it has the potential to rise toward $7 over the next 5 months once it breaks through the resistance levels.

Dogecoin Price Historical Trends Suggest a Possible Breakout

Furthermore, DOGECAPITAL interprets the present DOGE price pattern as analogous to the 2017 market, which might signify an imminent major price transformation.

The analysis he posted on X shows a 1,442-day pattern connecting accumulation patterns with rapid price accelerations.

According to him, the current market phase shows signs of preceding major upswings because of the white indicator on the price chart.

DOGE utilizes the curved trendlines in the assessment to show historical pattern repetition but warns about potential market volatility.

Previous price spikes of the token happened because of retail investments combined with media hype and trading speculations.

A future rally in 2025 probably depends on higher market interest along with robust external market forces.

Contrary to bearish indicators, DOGECAPITAL projections suggest DOGE will achieve future all-time highs.

History shows DOGE could exceed its former peak values provided the market continues to grow, thus progressing towards psychological price level of $10.