Dogecoin Slides Below $0.18 Amid Whale Outflows — But Double Bottom Hints at $0.48 Rebound

Dogecoin is feeling the weight of heavy whale outflows and technical pressure, yet traders are watching closely as the meme token teases a possible rebound pattern on the horizon.

Market Setup: Whales Pull, Price Follows

The world’s most famous meme coin has stumbled again.
Dogecoin (DOGE) dropped below $0.18, breaching a key psychological and technical support zone for the first time in nearly two months.
According to CoinDesk and CCN data, large holders — or “whales” — have moved significant volumes to exchanges, contributing to short-term selling pressure and amplified volatility.

Glassnode’s wallet tracker shows over 420 million DOGE transferred from whale addresses between October 24–29, coinciding with a sharp decline in open interest on derivatives exchanges.
This wave of profit-taking comes just as Bitcoin stabilizes near $109K, suggesting capital rotation away from high-risk meme assets into larger-cap plays.

“DOGE is behaving like a textbook liquidity trade,” one analyst said. “Whales are cashing out while retail traders wait for a reversal that may still take time to materialize.”

Technical Setup: Breakdown or Base Formation?

From a charting perspective, Dogecoin’s correction appears steep — down ~20% over the past month.
Yet beneath that weakness, some traders are spotting a potential double-bottom pattern near the $0.17–$0.18 zone.
If confirmed with a bounce and volume spike, this setup could pave the way for a target near $0.48 — the previous resistance cluster from early Q2.

Key levels to watch:

• Immediate support: $0.16–$0.18
• Reversal confirmation: breakout above $0.24
• Upside target (technical): $0.48
• Invalidation: daily close below $0.15

Momentum indicators are deeply oversold, with RSI near 32 and MACD flattening, hinting at potential exhaustion of selling momentum.
TradingView’s liquidity heatmap shows strong buy interest between $0.16–$0.18 — aligning with historical accumulation zones from mid-2024.

“Meme coins tend to overshoot on both sides,” notes Brave New Coin’s market report. “Once fear peaks, the sharpest rebounds often begin.”

Whale Dynamics: Sentiment vs. Strategy

Whale wallets — typically those holding more than 10M DOGE — have been active sellers since mid-October.
On-chain data from Santiment shows a surge in exchange inflows, followed by steady on-chain transaction spikes above $100K per transfer — the clearest sign of profit realization.

However, not all whale behavior is bearish.
A subset of high-value wallets began accumulating DOGE again below $0.18, signaling possible repositioning ahead of a speculative rebound.

In BTCNews.space’s prior coverage Bitcoin stabilizes near $111K as altcoins surge — why the gap matters, we noted how liquidity often rotates cyclically between major coins and meme tokens.
If Bitcoin’s macro consolidation continues, DOGE could regain speculative attention as traders hunt higher-beta opportunities.

Market Impact: Meme Energy Cools, Patience Required

Dogecoin’s social media traction — often a leading indicator of retail engagement — has cooled.
X (formerly Twitter) mentions of “#DOGE” have dropped 28% month-over-month, while trading volumes on Binance and OKX declined 35% compared to early October.
This suggests a fading of speculative hype rather than a total loss of interest.

Nevertheless, meme tokens like Dogecoin are driven as much by emotion as by fundamentals.
Historically, Dogecoin rebounds have followed long stretches of low volatility and sideways movement — conditions now forming again.

“When meme liquidity dries up, it doesn’t die — it waits,” says a senior trader at FTX Markets. “DOGE is in that waiting phase.”

Long-Term Outlook: Community, Culture, and Comebacks

Dogecoin’s long-term story remains intertwined with community strength and internet culture momentum.
Despite price drawdowns, Dogecoin’s network remains active, and transaction throughput is steady.
Its meme legacy — amplified by Elon Musk’s sporadic mentions — ensures continued visibility even during downturns.

If sentiment revives and Bitcoin reclaims higher levels, DOGE could re-emerge as a high-beta proxy for speculative recovery.
In short, the fundamentals remain humorous — but the chart might get serious again soon

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