Dogecoin (DOGE) has entered a clear downtrend, setting sequential lower-lows. The price fell 6.7% to $0.1605 after losing the vital support of $0.17. On-chain data reveals that this Dogecoin selling pressure from large holders drove the movement. This situation has solidified the $0.17 zone as a new, strong resistance.
The breach of $0.17 invalidated previous consolidation zones. Trading volume spiked 76% above the seven-day average. Liquidity data shows a significant supply barrier near $0.1702. A concentration of 1.44 billion DOGE is located there, acting as a technical ceiling that halts rebound attempts. Furthermore, a specific withdrawal of 59 million DOGE by a “whale” accelerated the drop toward the current $0.1600 support.
This movement is relevant because it confirms a “lower-lows” sequence. This is a succession of increasingly lower minimums, indicating a continuous bearish trend. However, although accumulation episodes were detected (purchases of 158 million and up to 2 billion DOGE on other occasions), these have failed to reverse the bearish bias. The Dogecoin selling pressure from large holders dominates the current market sentiment.
Is this the end of the rebound for the memecoin?
The current volatility increases the risk of slippage for large orders. This is especially true if the price heads toward the liquidity zones between $0.1550 and $0.1500. For product managers, this situation demands recalibrating exposure limits and stress tests. Whale activity also raises the need for on-chain traceability. This is key for compliance teams to detect rotations affecting clients and the token’s economy.
The immediate technical scenario places a tactical ceiling at $0.1630 and key support at $0.1600. If $0.1600 does not hold, the path of least resistance points to $0.1550. A confirmation above $0.1714 is required to consider a trend change. Meanwhile, the focus is on whether the Dogecoin selling pressure from large holders will ease or if the $0.1600 support can hold.
