Dogecoin Jumps 2% Amid Market Chaos — $41M Whale Sell-Off Shocks Investors on ‘Black Monday’!

Updated

April 8, 2025

Gambar Dogecoin Jumps 2% Amid Market Chaos — $41M Whale Sell-Off Shocks Investors on ‘Black Monday’!

Jakarta, Pintu News – A Dogecoin whale further strengthened investors’ bearish sentiment this “Black Monday” by selling 300 million coins to Binance.

On April 7, 2025, the price of DOGE had plummeted by almost 15% in the last 24 hours, dropping to $0.13, in line with the overall downward trend of the crypto market. In response to this situation, traders and investors are now taking a very cautious stance on the future prospects of the meme coin.

So, how is the Dogecoin price moving today?

Dogecoin Price Rises 2.80% in 24 hours

After dipping on Monday (April 7), Dogecoin has bounced back as of today, April 8, 2025 — rising 2.80% in the past 24 hours to trade at $0.1520, or around Rp2,572. Over the same period, DOGE hit a low of Rp2,234 and climbed to a high of Rp2,585.

At the time of writing, Dogecoin’s market cap stands at around $22.61 billion, with trading volume also rising 137% to $3.46 billion within 24 hours.

Dogecoin Whale Sells 300 Million Coins, Triggering Investor Concerns

Based on data from transaction tracker Whale Alert, a Dogecoin “whale” is known to have sent 300 million coins worth approximately $41.77 million to the Binance platform on April 7, 2025.

🚨 🚨 300,000,000 #DOGE (41,771,081 USD) transferred from unknown wallet to #Binance https://t.co/TBcCJ8ddbt
— Whale Alert (@whale_alert) April 7, 2025

This massive sell-off has traders and investors bracing for the possibility of increased price volatility. The crypto wallet address ‘DU8gPC5mh4KxWJARQRxoESFark2jAguBr5’ was recorded as the party making the transaction.

For your information, market sentiment generally tends to be negative when large transfers like this occur. This is because it can create high selling pressure and increase the supply of assets on the exchange, which can potentially lower the price of the coin according to the basic principles of supply and demand.

What Triggered the Whale DOGE Action?

The massive sell-off by Dogecoin whales was allegedly done to minimize losses amid the ongoing crypto market crash.

On April 7, 2025, the crypto sector in general experienced a “Black Monday,” where Bitcoin , Ethereum , and other leading altcoins experienced a significant drop in value due to depressing global trends.

One of the main triggers was Donald Trump’s retaliatory tariff policy that heated up global markets and risky assets simultaneously. As a result, Dogecoin’s price also took a hit, in line with the whale’s selloff.

Will Dogecoin Price Continue to be Depressed?

Market sentiment towards this dog-themed meme coin is currently very uncertain. Traders and investors are waiting for signs that the crypto market has absorbed the impact of the trade war tensions. However, for now, market conditions are still very bearish.

As mentioned earlier, the price of DOGE has dropped by almost 15% in a day and is now hovering around $0.13. Meanwhile, crypto market analyst Berke Oktay warned that further downside risks are still lurking, as DOGE has lost an important support level and dropped below $0.17.

However, another analyst by the name of Trader Tardigrade has a more optimistic view.

Dogecoin has formed its second RSI BULLISH DIVERGENCE. 🔥

The first was a weak reversal, characterized by a lower low in $DOGE and an equal low in RSI.
The second is a strong reversal, featuring a lower low in $DOGE and a higher low in RSI. 🚀 pic.twitter.com/YuXJbexrcj
— Trader Tardigrade (@TATrader_Alan) April 7, 2025

Despite the price plummeting and Dogecoin whales selling in large numbers, he notes that DOGE has formed an RSI bullish divergence for the second time. This indicates that momentum is starting to strengthen even though the price is still falling – often a signal that the price trend could reverse upwards.

Therefore, crypto investors are currently in a waiting phase, with market sentiment uncertain, waiting to see if the market will be ruled by bullish or bearish forces in the near future.

For now, the possibility of DOGE falling below $0.1 is still relatively small, although concerns remain due to external factors affecting the market.

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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.

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