🐕 Dogecoin Hits Three-Year Low as Whale Distribution Adds to Selling Pressure.
Dogecoin (DOGE) is struggling to recover after falling to approximately $0.0666 on November 10, its lowest price since November 2023. The token rebounded slightly toward $0.068 on November 11, but large-holder distribution continues to raise concerns about further downside pressure.
According to on-chain analytics firm Santiment, wallets holding between 100,000 and 100 million DOGE collectively sold approximately 750 million tokens since November 3, worth around $51 million. Meanwhile, Dogecoin's average daily network transaction volume declined 37%, falling to 7.96 billion DOGE from 12.62 billion in mid-October.
For investors, weakening network activity combined with whale selling suggests that market confidence remains fragile. The $0.0666 level is an important support area to monitor, while renewed accumulation and stronger transaction activity could help restore bullish momentum.
$DOGE
Dogecoin (DOGE) is struggling to recover after falling to approximately $0.0666 on November 10, its lowest price since November 2023. The token rebounded slightly toward $0.068 on November 11, but large-holder distribution continues to raise concerns about further downside pressure.
According to on-chain analytics firm Santiment, wallets holding between 100,000 and 100 million DOGE collectively sold approximately 750 million tokens since November 3, worth around $51 million. Meanwhile, Dogecoin's average daily network transaction volume declined 37%, falling to 7.96 billion DOGE from 12.62 billion in mid-October.
For investors, weakening network activity combined with whale selling suggests that market confidence remains fragile. The $0.0666 level is an important support area to monitor, while renewed accumulation and stronger transaction activity could help restore bullish momentum.
$DOGE
