Dogecoin (DOGE) Price Prediction: $440 Million Whale Sell-Off Challenges $0.18 Support Level
Dogecoin has once again grabbed the attention of the market, as a significant sell-off by whales has intensified volatility for the meme coin. The recent days have witnessed a flurry of activity, with large holders disposing of a massive 440 million DOGE, putting pressure on key technical levels and challenging traders’ resolve.
This sell-off, as observed through on-chain data from Santiment, saw wallets holding between 10 million and 100 million DOGE shedding approximately 440 million coins between October 27 and 30, 2025. Consequently, the price of Dogecoin plummeted from $0.23 to $0.189, breaching the psychologically crucial support level of $0.20.
Market analysts are closely watching this development, labeling it as one of the most significant whale distribution events of the year. The correlation between whale holdings and price action remains strong, with analyst Ali noting the importance of the $0.18 support for Dogecoin. The current price hovers at $0.183, signaling a cautious market sentiment as of November 1, 2025.
The rationale behind the recent whale activity appears to be a combination of profit-taking, portfolio rebalancing, and risk mitigation strategies. Following a surge that saw Dogecoin reach around $0.28 in mid-October, large holders saw this as an opportunity to lock in profits after a sustained period of growth. With other major cryptocurrencies like Bitcoin and Solana gaining traction and newer meme coins attracting attention, investors likely reallocated funds to assets showing stronger short-term performance.
Additionally, macroeconomic uncertainties and tightening liquidity globally have prompted investors to trim their exposure to speculative altcoins like DOGE, opting for a more conservative approach in managing their portfolios. While whale sell-offs historically lead to short-term price dips, they often pave the way for a new accumulation phase once the selling pressure eases. Maintaining above the critical support of $0.18 could set the stage for a potential recovery towards $0.26-$0.33 in the near future.
In terms of technical indicators, the 4-hour chart displays a descending channel pattern, typically seen prior to a breakout if support levels hold. A successful defense of the $0.18 support could empower bulls to drive the price towards resistance levels at $0.26 and $0.33. However, a breach below $0.18 might expose the coin to revisiting $0.14, which some traders view as a possible accumulation zone.
Market sentiment remains divided, with optimistic traders viewing the current prices as a buying opportunity, while skeptics emphasize the impact of whale activity and overall crypto market liquidity on Dogecoin’s trajectory. Social sentiment data depicts a split among traders, with some anticipating another bull run for Dogecoin, while others express caution due to sustained whale selling pressure.
Despite this uncertainty, long-term holders maintain optimism for Dogecoin’s future, especially with discussions surrounding Dogecoin payments and Elon Musk’s potential involvement in the market. With a history of bouncing back strongly after major corrections, Dogecoin’s prospects for late 2025 could turn bullish if it manages to hold above $0.18 and resume accumulation.
