DOGE Tanks 9% as Whales Offload $400 Million – Will the Crash Continue? (3/10/25)

Jakarta, Pintu News – According to BeInCrypto (7/3/25), Dogecoin (DOGE) experienced massive selling pressure, causing significant losses for holders.

Currently, the price of DOGE is still struggling to hold key support levels, but the bearish trend is strengthening with the possibility of a Death Cross forming – a technical signal signaling a change in market sentiment that could push the altcoin deeper down.

With market conditions turning increasingly bearish, DOGE is on the verge of losing its crucial $0.20 support level, potentially paving the way for further declines and intensified selling pressure. The big question remains—where is DOGE headed next?

Dogecoin price drops 9.28% in 24 hours

On March 10, 2025, Dogecoin (DOGE) tumbled 9.28% in the past 24 hours, trading at $0.1734 (2,844 IDR). During this period, DOGE reached a daily high of 3,150 IDR before sliding to its lowest point at 2,726 IDR, reflecting heightened selling pressure in the market.

At the time of writing, Dogecoin’s market cap stands at around $25.72 billion, with trading volume rising 114% to $1.99 billion within 24 hours.

Read also: Bitcoin Price Crashes to $82,000 Today (March 10, 2025) – What’s Behind the Drop?

Dogecoin whales start releasing holdings, signaling a bearish trend?

One of the key technical indicators to watch out for now is the potential formation of a Death Cross, where the 200-day exponential moving average (EMA) will cross below the 50-day EMA.

If this happens, it would be the first Death Cross in 8 months, ending Dogecoin’s 5-month bullish trend.

This is usually considered a sell signal by traders, which could trigger a longer bearish trend. Concerns about this pattern have started to impact investor behavior.

Whale investors, who have large holdings of DOGE, have reacted quickly to the rising bearish sentiment.

In the last 48 hours (7/3/25), wallet addresses holding 100 million to 1 billion DOGE have sold a total of 2 billion DOGE, worth more than $400 million.

This massive whale sell-off further emphasizes the market’s uncertainty regarding Dogecoin’s potential recovery. With many large holders starting to exit the market, the chances of DOGE becoming bullish again seem slim.

Read also: Ethereum Price Crashes 6% Today (10/3/25): What Happened?

If this trend continues, smaller retail investors may follow the whales’ lead, adding to the selling pressure and potentially pushing Dogecoin’s price down further.

DOGE price on the brink, will it survive or plunge further?

At the end of last week, Dogecoin (DOGE) was trading at $0.20, trying to maintain support at $0.19.

However, with the market still bearish and selling pressure mounting, the chances of a further decline are still considerable.

If DOGE fails to hold at $0.19, it is likely that the price will drop further to test the next major support at $0.17.

Historically, Dogecoin has shown resilience around this level, so it is possible that the price will consolidate before attempting a rebound. However, if $0.17 is also broken, DOGE could suffer deeper losses.

The only way to reverse the bearish trend is if Dogecoin is able to break the resistance at $0.22, which in recent weeks has been a strong barrier to price gains.

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If it manages to make this level a support, DOGE could get a boost to rise towards $0.26.

If the bullish momentum continues and DOGE is able to maintain this level, the altcoin could potentially reach $0.31, registering a gain of almost 53% from its current level.

This would allow Dogecoin to recover most of its losses and return to a bullish trend.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Dogecoin Whales Sell 2 Billion DOGE as Price Nears Death Cross. Accessed on March 10, 2025