Dogecoin Whale Dump Spurs Price Dip as Over 1 Billion DOGE Move in One Week

Crypto analyst Ali Martinez (@ali_charts) has reported a massive Dogecoin (DOGE) sell-off by whales, sparking concerns across the market. On-chain data from Santiment shows that whales holding between 10 million and 100 million DOGE have unloaded over 500 million tokens. This large-scale dump coincided with a 7.2% decline in DOGE’s price, which dropped from $0.1680 to $0.15594.

Adding to the market turbulence, Whale Alert detected a massive transfer of 478 million DOGE—valued at nearly $73 million—between anonymous wallets just two days prior. In total, more than 1.04 billion DOGE have moved within the past week, raising speculation about the motive behind these transfers. While some believe it could be related to internal exchange wallet reshuffling or OTC transactions, the exact purpose remains unclear.

Despite recent price volatility, Dogecoin continues to hold a strong presence in the crypto space. However, Elon Musk—once a major driver of DOGE hype—has noticeably reduced his public mentions of the meme coin, potentially weakening some of its retail momentum.

Meanwhile, Binance CEO Richard Teng emphasized crypto’s positive impact on remittance and cross-border financial transfers. He highlighted how significantly cryptocurrencies, like Dogecoin, have reduced transaction fees, especially benefiting users in developing countries who rely on affordable ways to send money home.

As DOGE faces renewed selling pressure and shifting whale dynamics, traders and investors are closely monitoring the next move for the iconic meme coin. The latest whale activity underscores the unpredictable nature of meme-based tokens and their sensitivity to large holder movements.