Dogecoin struggles at the 0.15 USD mark: Whales retreat, long-term holders still hold tight
DOGE is facing strong selling pressure as over 570 million DOGE were withdrawn from whale wallets in the past week. The SOPR index has turned negative, indicating that most players are cutting losses. However, the price has only slightly decreased by 2.4% and remains around the 0.15 USD mark – suggesting there is buying support, mainly from retail and mid-term investors.
DOGE is currently down over 70% from its peak in November 2024, causing many short-term holders to sell off. Meanwhile, long-term investors continue to accumulate, accounting for 32% of the total supply.
Nevertheless, the support level at 0.15 USD remains quite fragile if selling pressure continues. The current price stability may only be temporary, lacking sufficient grounds for a clear recovery.
