Amid the continued bearish worth momentum, Dogecoin (DOGE), the most important and hottest meme coin, has been gaining important consideration from crypto fans because of its notable worth drop in latest days.
Crypto Whales Purchase 530 Million DOGE
On February 28, 2025, a outstanding crypto knowledgeable shared a submit on X (previously Twitter), revealing that through the previous three days of DOGE’s worth decline, whales have purchased the dip, accumulating a major 530 million DOGE.
https://twitter.com/ali_charts/standing/1895217845186724299
DOGE’s on-chain information exhibits that it has skilled a worth drop of over 17% through the interval when whales purchased the dip. It seems that they started accumulating after the breakdown of the essential assist degree at $0.238.
Dogecoin (DOGE) Worth Motion and Upcoming Stage
In line with knowledgeable technical evaluation, DOGE seems bearish however has been consolidating in a decent vary close to the essential assist degree of $0.175 for the previous two buying and selling days. Based mostly on latest worth motion and historic patterns, DOGE nonetheless appears bearish and will drop one other 15% sooner or later.
As of now, the asset is buying and selling under the 200-day Exponential Transferring Common (EMA) on the every day timeframe, indicating a downtrend.
Present Worth Momentum and Decline of Open Curiosity
DOGE is at present buying and selling close to $0.206 and has skilled a modest worth surge of over 1.75% up to now 24 hours. Nevertheless, throughout the identical interval, its buying and selling quantity dropped by 30%, indicating decrease participation from merchants and traders, probably because of the important worth fluctuations the meme coin has witnessed in latest days.
With the bearish market outlook, information from the on-chain analytics agency Coinglass revealed that intraday and spinoff merchants look like abandoning DOGE, as its futures open curiosity (OI) has dropped to its lowest degree in 2025.
For the reason that presidential inauguration, DOGE’s OI has fallen from $5.25 billion to $1.79 billion, reflecting fading dealer curiosity, probably because of market uncertainty and declining momentum.