Dogecoin (DOGE) is experiencing heightened turbulence as on-chain metrics reveal a $2 billion surge in trading volume and a rise in whale actions. Whereas such explosive market exercise could also be misconstrued as bullish, deeper evaluation suggests a extra bearish ambiance, as large holders offload their positions amid waning retail demand. With DOGE costs consolidating close to essential ranges after its current breakdown, analysts warn of an impending continuation of the downtrend as key helps fail to carry.
Dogecoin $2 Billion Quantity Surge Raises Crimson Flags
On-chain information from TradingView has revealed a major surge in Dogecoin’s trading activity, with quantity climbing as excessive as 62% and exceeding $2 billion on Tuesday, November 3. Regardless of the obvious improve in market participation, the underlying alerts from oscillators, Moving Averages (MA), and pivot indicators collectively level towards “robust” promoting strain.
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Notably, a lot of this heightened exercise has been attributed to giant holders liquidating their positions amidst broader market weakness, contributing to the already substantial wave of promote quantity. TradingView information exhibits that Dogecoin’s worth has been in a decline throughout this improve in market exercise, highlighting the underlying bearishness fueled by increased selling activity.
DOGE’s worth has been consolidating between $0.17 and $0.21 since mid-October 2025, forming a decent worth vary. Nevertheless, with its current volatility, its worth has dropped under its former consolidation vary and is now buying and selling round $0.16, on the time of writing. TradingView confirms that Dogecoin’s earlier range-bound conduct and its constant worth decline are being pushed by whale distribution relatively than accumulation.
To help this declare, current reports from crypto analyst Ali Martinez revealed that over 1 billion DOGE have been sold by whales inside a single week. And simply the week earlier than, these large-scale traders had initiated a $500 million DOGE liquidation. This escalating promote strain has successfully weakened Dogecoin’s technical outlook, with costs now down greater than 37% previously month and momentum indicators exhibiting exhaustion amongst patrons.
Analysts Predict Deeper DOGE Crash As Help Crumbles
Martinez and market knowledgeable ‘Umair Crypto’ have each issued recent warnings amid Dogecoin’s ongoing worth correction. In his publish on X, Martinez emphasized that the DOGE worth has formally misplaced its structural help at $0.18, invalidating the prior bullish scenario. His accompanying chart tasks potential draw back targets as little as $0.12, suggesting a 30% decline from present ranges if bearish momentum continues.
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Umair Crypto’s evaluation echoes related cautions, exhibiting Dogecoin buying and selling round $0.169, having failed to carry earlier help ranges. He famous that the preliminary bounce from this present worth vary seems weak, indicating that sellers are dominating the market. The analyst’s chart means that the following essential help is close to $1.41, roughly 15% under present ranges. Moreover, he warns that weak rebounds at this key degree typically sign the beginning of a continued downtrend, suggesting that price declines could be on the way.
Featured picture from Getty Photographs, chart from Tradingview.com
