$DOGE this drop has pushed DOGE down to $0.0868, and within the past 24 hours it has shrunk another 3.1%. Trading volume is still hovering near a high of $597M. On the surface, it looks like it’s just moving with overall market sentiment, but I noticed an on-chain signal that’s easy to miss: within the past 48 hours, DOGE’s whale addresses have shown a clear “staggered withdrawal” pattern. And it’s not moving coins toward exchanges—it’s being transferred to cold wallets. This pattern is unusual. Typically, large holders only do this kind of move before major volatility, as if they’re preparing for some kind of long-term locking. Digging deeper into the on-chain data, I have a more specific observation: DOGE’s high in the last 24 hours at $0.09 lines up exactly with a big sell-wall order, but right after that level was touched, the order was quickly pulled, leaving only trade prints behind. This “ghost order” combined with the withdrawal behavior makes me suspect that market makers are deliberately suppressing the price to accumulate liquidity. The goal may be to clean up leveraged positions before the next upward push. After all, the $0.08 low has been tested twice already, and each time huge buy orders stepped in to support the price. This looks like a level that retail traders alone can’t hold. Another detail: DOGE’s net inflow to exchanges is actually declining, but the price is still falling—this suggests the sell pressure isn’t coming from fresh deposits, but more like in-market capital is rotating out and trading. I suspect someone is using market panic to collect chips, especially coins that have been withdrawn from exchanges, potentially positioning for a certain event—such as Musk issuing another buy signal, or news about new payment integrations. These moves usually don’t show up directly on the K-line, but on-chain traces can’t be fooled. So my view is that in the short term, DOGE may still dip to test the $0.08 support once more. But once the whales stop withdrawing, the rebound strength could far exceed this wave of downside, with targets above $0.095. However, this logic needs time to verify. If over the next three days the on-chain withdrawal speed slows down, yet the price doesn’t break below $0.08, then my guess would be about 70% likely to be correct. Let’s wait and see whether the market follows this script. What do you think?