Dogecoin could dip lower as large whales sell 120m DOGE

The cryptocurrency Dogecoin traded near $0.075 on Monday after five consecutive weekly declines, as wallets holding 10 million to 100 million DOGE cut their combined holdings by 120 million tokens since Thursday, according to Santiment’s Supply Distribution data. Over the same period, smaller wallets holding 100,000 to 1 million DOGE and 1 million to 10 million DOGE accumulated a combined 100 million tokens, not fully offsetting the larger holders’ selling. CryptoQuant’s market summary showed large whale orders, elevated trading activity and sell-side dominance; Dogecoin remained below its 50-day, 100-day and 200-day exponential moving averages, price-tracking indicators, at $0.082, $0.083 and $0.090. The next major support, a price floor, was $0.068, with resistance, a price ceiling, near $0.079.