Dogecoin breaks below 0.18 as large wallets unload

Dogecoin tumbled on Tuesday after breaching a string of short-term support levels, sliding below the 0.18 zone as heavy selling from large wallets and elevated trading volumes pushed the memecoin to new monthly lows. The move unfolded during a session of broad crypto weakness that followed a correction in Bitcoin and intensified distribution among institutional and midtier holders.

Onchain metrics and exchange data showed a marked increase in outflows and large transfers. Addresses classified as midtier whales sold roughly 440 million DOGE over recent sessions, while daily net flows registered in the tens of millions, indicating sustained distribution rather than accumulation. Trading volume rose sharply to multiweek highs as cascading stop losses and algorithmic orders amplified the selloff.

Technically, Dogecoin’s structure has shifted into a bearish posture. Price had been coiling inside a descending formation for weeks before breaking lower, with repeated rejections at its short-term moving average cluster. The 20-day, 50-day, and 100-day exponential moving averages have presented a tight resistance ceiling, while the 200-day average remains well above the market, consistent...