Dogecoin Sinks 8% Today (March 11, 2025) – Are Whales Preparing for a Big Move?

Jakarta, Pintu News – The crypto market is under selling pressure again, with the price of Dogecoin (DOGE) plummeting 8% today, March 11, 2025. This drop comes amid a broader market correction, sparking investor concerns regarding the future price trend of DOGE.

Despite the price slump, whale activity has increased sharply, with massive accumulation in recent days. Does this movement signal a potential rebound, or is DOGE still at risk of a deeper drop?

Dogecoin price drops 8.49% in 24 hours

On March 11, 2025, Dogecoin (DOGE) saw an 8.49% drop in the past 24 hours, trading at $0.1556 (approximately 2,566 IDR). During this period, DOGE reached a high of 2,952 IDR and a low of 2,372 IDR.

At the time of writing, Dogecoin’s market cap stands at around $23.05 billion, with trading volume rising 28% to $2.54 billion within 24 hours.

Read also: Ethereum Plunges 9% Today (March 11, 2025) – Massive Sell-Off Leaves 50% of Holders in the Red!

What happened to the Dogecoin price today?

Will Dogecoin Price Rebound Soon?

Crypto analyst Ali Martinez highlights a crucial support level for Dogecoin (DOGE) as the price approaches the lower limit of the current movement channel.

According to Martinez, DOGE needs to stay above $0.16 in order to maintain its momentum and open up opportunities for a strong rebound.

At the time of writing, the price of DOGE is down 8% to $0.1556, with daily trading volume jumping 28% to over $2.54 billion. Meanwhile, open interest fell 12.91% to $1.45 billion, and liquidations in the last 24 hours increased to $21 million, according to Coinglass data.

Previously, Martinez also stated that if the bulls manage to keep the price of DOGE above the $0.16 support, then the asset could potentially experience a price surge to $2.74, even up to $6.24.

Whale Activity and DOGE Active Addresses Increase Drastically!

Although the price of Dogecoin (DOGE) continues to decline as the broader crypto market corrects, analysts remain optimistic thanks to strong on-chain developments.

In a significant move, the number of active addresses on the DOGE network jumped 270% in the last 24 hours, rising from 71,750 to 264,000.

Read also: Bitcoin Crashes to $79,000 Today (March 11, 2025) – Is BTC Headed for a New 4-Month Low?

On the other hand, the biggest whale on the Dogecoin network has reportedly accumulated 1.7 billion DOGE in the last 72 hours. This large accumulation indicates that big players are preparing for the next big move, showing increased activity and interest in this meme coin.

In addition, the number of Dogecoin wallet addresses reached an all-time high, further strengthening the bullish outlook for DOGE.

Key Demand Zone for DOGE: Will Prices Stabilize?

Pseudonymous crypto analyst “TheGift94” identified a key demand zone where Dogecoin (DOGE) could potentially stabilize amid intense selling pressure.

In his latest analysis on TradingView, he highlights three buy zones that are considered crucial for the price movement of this meme coin.

The first support zone at $0.20 has been broken, after DOGE prices plummeted 13% yesterday and closed at $0.1678.

Furthermore, the analyst highlighted two additional support zones that are now of major concern: $0.16 and $0.13. These levels are being closely monitored as potential turning points for Dogecoin’s price movement.

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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:

• Coingape. Will Dogecoin Price Begin Rally to $2.74 After 270% Surge In Active Addresses? Accessed on March 11, 2025