Dogecoin (DOGE) has indeed seen a surge in whale activity recently, but contrary to the expected accumulation of holdings, these large holders appear to be more interested in selling than buying. According to IntoTheBlock’s on-chain analysis, both the number and volume of large DOGE transactions have dropped sharply. Although the price of DOGE increased by around 3% in October, trading at around $0.1329, a decrease in whale activity could be a sign of a price correction to come.

DOGE has seen a significant decrease in primary transaction value and volume over the past few days, suggesting that whale behavior may be changing. This change may be related to market expectations for DOGE, especially after DOGE prices have experienced a period of increase. Selling behavior by whales could lead to an increase in the supply of DOGE on the market, putting pressure on prices.

In addition, DOGE’s trading dynamics also show some changes. For example, trading volume expands when prices rise and shrinks when prices fall, indicating that there is strong buying momentum in the market. However, as whale activity decreases, this momentum may be affected, affecting DOGE's short-term price action.

Overall, a surge in whale activity in Dogecoin (DOGE) could signal a change in market dynamics, especially as these large holders are more inclined to sell than buy. Investors should pay close attention to market dynamics and the potential impact of whale behavior on the price of DOGE.