Dogecoin Price Weakens as Death Cross and Whale Sell-Off Signal Deeper Decline

Dogecoin’s recent recovery has lost steam as the popular meme coin slips below the $0.200 mark, signaling growing bearish pressure across the market. The cryptocurrency, once buoyed by strong retail enthusiasm, is now facing intensified selling momentum and weakening investor sentiment.

Technical indicators highlight an increasingly negative outlook for DOGE. The formation of a Death Cross, where the 50-day Exponential Moving Average (EMA) dips below the 200-day EMA, confirms the end of Dogecoin’s short-term bullish phase. This bearish crossover suggests further downside potential as traders turn cautious amid broader market uncertainty.

Adding to the pressure, whale activity—a key indicator of institutional sentiment—shows a notable shift toward selling. Over the past week, large holders have offloaded around 1.05 billion DOGE, valued at over $180 million. Wallets holding between 10 million and 100 million DOGE began selling on October 27, unloading roughly 800 million tokens. Meanwhile, whales with 100 million to 1 billion DOGE followed suit, shedding an additional 250 million coins. Such large-scale distributions often precede market corrections and erode investor confidence.

At the time of writing, Dogecoin trades near $0.185, hovering just above a crucial support zone. If selling pressure continues, the price could slide toward $0.175 or $0.165, potentially triggering panic among retail investors and deepening losses. On the other hand, a rebound above $0.199 and a breakout past $0.209 could invalidate the bearish setup, restoring short-term optimism and inviting renewed buying interest.

With bearish technicals and declining whale confidence, Dogecoin faces a critical test in the coming days. Investors should watch key support levels closely as the meme coin battles to regain its lost momentum.