Dogecoin Slides Below $0.18 as Whale Selloffs Signal Institutional Distribution

Dogecoin (DOGE) extended its losses through Tuesday, dropping 6.8% to fall below the key $0.18 support level amid heavy whale outflows and surging trading activity. The move highlights renewed institutional distribution across meme coin markets, suggesting growing risk aversion despite broader market strength.

DOGE’s price plunged from $0.1934 to $0.1803 in a volatile 24-hour session, marking an 8.9% intraday range. Trading volume jumped 44% above the seven-day average, signaling aggressive selling pressure. On-chain data tracked over $29 million in large transactions during the breakdown, including a $26.8 million transfer from a dormant whale wallet to Binance—an event that coincided with the day’s sharpest volume spike.

The memecoin lagged behind the broader crypto market, underperforming by 3.25%, as institutional players appeared to rotate profits into higher-performing assets. Technical indicators now point toward a confirmed distribution phase. DOGE’s breakdown below $0.18 completed an ascending wedge failure, suggesting continued downside momentum. Resistance has reformed near $0.1950–$0.1970, while immediate support stands at $0.1780–$0.1800.

Volume analysis further reinforces institutional-scale selling, with 1.17 billion tokens traded—well above average turnover. Momentum divergence on lower timeframes indicates the potential for further declines toward $0.166 if current support fails.

Market participants are closely watching whether DOGE can defend the $0.18 base after multiple whale-driven selloffs. Short-term relief rallies toward $0.181–$0.182 are expected to face resistance as liquidity remains concentrated near prior rejection zones. Futures open interest has dropped 61% since October highs, reflecting reduced leverage but limited signs of reaccumulation.

While Q4 historically brings optimism for meme coin rallies, Dogecoin’s fragile technical structure and bearish sentiment suggest caution until a decisive reclaim above $0.19 signals renewed bullish control.