Whales Buy Dogecoin as Price Slides

Dogecoin’s value fell about 18% last week, touching a low it hasn’t seen since February. Yet big investors are buying in bulk. Over the past seven days, whale accounts bought more than 200 million DOGE tokens, worth roughly $16.8 million at current rates. This purchase happened when the price hovered near a key support level of $0.081, a point where many DOGE holders had stored their coins.

The move comes despite the recent drop. Even Binance’s top traders, who hold the biggest margin balances, have increased their Bitcoin positions after a sharp dip earlier in the week. This suggests that large players are looking for opportunities when prices fall.

Technical charts show mixed signals.

• Moving Average Convergence Divergence (MACD) indicator, which compares short‑term and long‑term price averages, is giving a “Sell” suggestion for DOGE.
• Meanwhile, the market price at the time of writing was $0.08402, down 2.75% over the last day.

The influence of Elon Musk, once a major driver for DOGE’s popularity, is weakening. As the meme coin’s price moves further away from its early highs, traders are rethinking their strategies. Some see this as a chance to buy low before a potential rebound, while others remain cautious.

In short, the market is split. While many traders are pulling back, whales continue to accumulate DOGE at lower prices, hoping the coin will recover. Investors should watch key support levels and technical signals closely before deciding to jump in.