Dogecoin Slips Below $0.17 as Whale Selling Triggers Sharp 6.7% Drop

Dogecoin (DOGE) faced heavy selling pressure in the last session, tumbling 6.7% from $0.1719 to $0.1605 as whales exited positions into market weakness. The breakdown below key $0.17 support marked a clear shift in market control toward the bears, with $0.16 now acting as the next critical battleground for price stability. Trading volume surged roughly 76% above its seven-day average, signaling strong distribution activity rather than emotional retail selling.

The selloff extended ongoing liquidation from large holders rotating out of meme coins amid tightening liquidity across the altcoin market. A massive 1.44 billion DOGE sell wall around $0.1702 rejected early buyer attempts, triggering algorithmic stop losses and accelerating the downward momentum. That level now stands as a key resistance zone, where sellers are likely to defend aggressively until a clear reversal forms. Broader market data shows leverage reduction and capital rotation back into Bitcoin, leaving Dogecoin vulnerable as risk appetite fades.

Price action revealed a steady fade from $0.1719 to $0.1650 before a sharp drop to $0.1600. The largest sell-off — about 59 million DOGE — occurred within minutes late in the session, confirming panic-driven exits. Afterward, trading flattened with minimal recovery, suggesting exhaustion but not accumulation.

Technically, Dogecoin maintains a bearish continuation pattern with lower highs and fading momentum. Immediate support sits near $0.1600, followed by deeper liquidity pockets between $0.1550 and $0.1500. Resistance remains at $0.1630 and the $0.1702–$0.1714 supply zone. Oversold indicators are appearing, yet no strong reversal signals have emerged, implying further drift or grind lower unless a catalyst triggers renewed buying interest. Traders are closely watching if $0.1600 holds or if deeper retracements toward $0.1550 occur amid ongoing whale outflows and macro volatility.