Whale Alert in Dogecoin! Millions of USD Sold! What Does This Mean? Here Are the Details

While Dogecoin has consolidated its price just below $0.26 in recent days, whale selling activity is drawing attention. Dogecoin Continues to Maintain an Uptrend Structure: Whales Have Sold DOGE Worth 40 Million USD, Is a New Recovery Coming Soon? According to on-chain data, 170 million Dogecoin, or about 40 million dollars worth of tokens, have been exchanged in the past few days. This trend may indicate that the market is laying the groundwork for a potential price breakout. Technical Outlook: A Healthy Adjustment? Dogecoin still maintains a strong bullish structure despite having dropped 18% since the local peak on May 11. The price action has formed a structure similar to the classic "bull flag" pattern following the price increase that began in early April. Analysts predict that the current consolidation is a healthy correction and DOGE could bounce back to the range of $0.35 to $0.45 in the next 7 days. These targets imply a potential increase of 52% to 114% from the current price. Highlights of Technical Analysis DOGE has formed an upward channel, indicating an uptrend between $0.222 and $0.228. The key support level is in the range of $0.218–$0.219.Selling pressure is observed in the $0.233–0.234 zone, which is considered an important resistance area. A quick retracement from the daily high suggests that the short-term consolidation may continue, but the overall structure is still supported by higher lows. In recent hours, DOGE has fallen from $0.233 to $0.227, which corresponds to a correction of 2.57%. There have been several attempts to find support in the range of $0.227–0.228, which suggests that traders are closely watching these levels. The Role of Whales Although large-scale selling activities by whales often cause short-term volatility in the market, such moves can also be understood as a harbinger of the next price increase. The reality is that the technical structures are sending positive signals and the overall market sentiment remains strong, supporting hopes for the recovery of Dogecoin. Next week could be very important for Dogecoin traders as whether the price can break the resistance level of $0.26 will determine the direction of the next big move.