Whale Alert in Dogecoin! Millions of Dollars in Sales Have Come! What Does It Mean? Here Are the Details

Dogecoin (DOGE), has recently entered a consolidation phase just below the $0.26 level, drawing attention to the sales executed by whales.

Dogecoin Continues to Maintain Its Uptrend Structure: Whales Sold 40 Million Dollars' Worth of DOGE, Is a New Jump Around the Corner?

According to on-chain data, 170 million DOGE, or about $40 million worth of tokens, have changed hands in the past few days. This development may indicate that the market is laying the groundwork for a possible upside breakout.

Technical Outlook: A Healthy Correction?

Dogecoin has maintained a strong upward structure despite experiencing an 18% pullback since its local peak on May 11. The price action has formed a structure similar to a classic "bull flag" following the rally that began in early April.

Analysts predict that the current consolidation is a healthy correction and that DOGE could bounce to the range of 0.35 to 0.45 dollars within the next 7 days. These targets imply a potential gain of between 52% and 114% from the current price level.

Technical Analysis Highlights

• DOGE has formed an upward channel showing an upward trend between 0.222 and 0.228 dollars. The critical support level is positioned in the range of 0.218–0.219 dollars.
• Selling pressure was observed in the 0.233–0.234 dollar range; this level stands out as an important resistance area.
• The rapid pullback from the daily peak suggests that short-term consolidation may continue. However, the overall structure is still supported by higher low levels.
• In the last hours, DOGE has declined from $0.233 to $0.227 with a correction of 2.57%.
• There were several attempts to find support in the range of 0.227–0.228 dollars; this indicates that investors are closely monitoring these levels.

The Role of Whales

Large-scale sales made by whales often cause short-term volatility in the market, but such movements can also be interpreted as a precursor to the next rally.

The positive signals from technical structures and the strong maintenance of overall market sentiment support the potential for a bounce for Dogecoin.

Next week could be critical for Dogecoin investors; whether the price can break the resistance at 0.26 dollars will determine the direction of the next big move.