Whales Scoop 240M DOGE As Dogecoin Dips

Dogecoin has had a rough week with its price sliding about 9 percent down to roughly $0.08. Big investors, often called whales, are treating this price drop as a buying chance. Data shows these large holders accumulated over 240 million DOGE worth close to $20 million in just seven days. They now control roughly 12 percent of the total circulating supply.

Technical indicators are also flashing interesting signals for the original meme coin. The Relative Strength Index dropped all the way to 9, which puts the asset deep in oversold territory. Exchange data shows outflows outpacing inflows lately, meaning traders are moving coins off exchanges into private wallets. This trend usually lowers immediate selling pressure on the market.

Chart analysts are pointing out positive patterns despite the recent losses. One trader noted that DOGE bounced right off a key support line inside an ascending channel with a short term target near $0.093. Another analyst pointed to a potential cup and handle formation that could push the price toward the psychological $0.10 mark.

Traders should watch to see if this heavy whale accumulation can spark a real trend reversal. If support holds steady at current levels, the meme coin might attract more retail interest and climb higher in the coming days.