- Dogecoin dropped 2.07% to $0.155 amid rising U.S.-China trade tensions, continuing its 3-day downtrend and forming a bearish lower high pattern on the charts.
- Despite the dip, whales bought over 800 million DOGE in 48 hours, suggesting big players are confident in a potential reversal even as retail sentiment weakens.
- DOGE is stuck in a falling channel, and if it breaks out, it could rally 45% toward $0.23 — but if bearish pressure continues, it risks sliding to $0.085.
Dogecoin’s having a rough time this week. The OG meme coin dropped around 2.07% during Tuesday’s session, dipping to $0.155. That fall lines up with rising tensions in the ongoing U.S.-China trade spat, which has the entire crypto market feeling… well, shaky. And now, DOGE is flirting with a potential dip under the $0.15 level — not exactly ideal. But — and it’s a big but — there’s something brewing beneath the surface: whale accumulation.
Big Wallets Are Buying the Dip — Hope for a Bounce?
Over just three days, DOGE slid from $0.169 to $0.155 — that’s nearly 9% shaved off. This drop formed a lower high on the charts, hinting that traders might still be in “sell the bounce” mode. And yeah, that’s a bit bearish.
But according to on-chain data, whales (those heavy-hitter wallets) are actually loading up. Ali Martinez, a well-known crypto analyst, noted that whales scooped up over 800 million DOGE in just 48 hours. That’s not nothing. This kind of activity often shows smart money betting on a reversal while retail panics — it’s been seen time and time again.
Still in a Falling Channel… But Breakout Isn’t Off the Table
Looking at DOGE’s daily chart, the price seems trapped in a downward-sloping channel. Not great, but also not unexpected. Right now, the price is hovering around $0.1554, with a market cap near $23 billion.
If the trade war chatter gets louder, DOGE could keep bleeding — possibly dropping another 45% all the way to $0.085, the lower end of the channel. That would definitely sting.
But — and here’s the bullish flip side — if some momentum returns and DOGE breaks out above that channel resistance, it could be a game-changer. A breakout might trigger a 45% rally, sending DOGE back up toward $0.23.
So yeah, it’s crunch time. Whether DOGE collapses or claws its way up may depend on whales holding strong and global markets calming down — two things that are, admittedly, not easy to bet on right now.
