DOGE(DOGE)Whale sell 1 billion coins… "memecoin bubble burst precursor"

Large investors of DOGE have sold more than 1 billion DOGE (approximately 136 billion Korean Won) to the market in the past week, sending a strong warning signal to the memecoin market. This large-scale dumping, especially in the absence of external favourable information, has further raised concerns in the market.

According to data from the crypto analysis platform Santiment, wallet addresses holding between 10 million and 100 million DOGE have begun a large-scale dumping of their holdings. The supply of DOGE controlled by these addresses has now plunged to about 22.9 billion, the lowest level since the summer of this year. Analysis indicates that this is not a simple portfolio adjustment, but a comprehensive “dumping wave.”

The price trend also confirms this trend. The price of DOGE encountered resistance at $0.17 and fell to $0.162 (approximately 220 KRW) on November 4th. This is similar to the price trend in March this year, when the price failed to break through $0.20 and then entered a free-fall mode.

The uniqueness of this wave of dumping lies in the lack of clear triggering factors. In the past, DOGE often experienced wild fluctuations due to external events such as comments from Elon Musk or the launch of new exchanges, but this time, large investors are proactively exiting without the influence of key opinion leaders.

Chart analysts warn that DOGE is testing its last support level at the $0.15 mark, and if this defense line is breached, it may further drop to the psychological support level of $0.10 (approximately 136 KRW). This is quite similar to the historical precedent when DOGE halved from $0.26 to $0.12.

There are observations that this trend may signify the decline of the memecoin era. Retail investors are unable to determine the bottom of the decline, while large investors are quietly exiting the market.

Experts point out that the future trend of DOGE is not only dependent on whether there will be a short-term technical rebound, but also on whether the investment narrative of memecoins can continue. Currently, the cautious argument that “keeping a distance is more important than chasing the hype” is gradually gaining ground.