Dogecoin Drops 15% In 1 Week: Why Do Whales Keep Buying The Dip?

Dogecoin (CRYPTO: DOGE) has slumped 15% over the past seven days, but that hasn't stopped large holders from scooping up tokens at discounted levels. Despite short-term weakness, long-term bullish sentiment appears intact.

Trader Notes: Crypto Bully notes that after booking a 25% gain in the previous rally, Dogecoin failed to hold its range highs and slid back inside the trading range.

He now expects a move toward the range midpoint or lows, with the demand zone near the previous breakout eyed for potential re-entry.

Trader Tardigrade points out that DOGE has dropped nearly 10% in the last 17 hours, pushing the Relative Strength Index (RSI) into oversold territory.

This opens the door for either a support-driven bounce or sideways consolidation, though further confirmation is needed before a clear reversal can be confirmed.

Statistics: Crypto chart analyst Ali Martinez reports that whales bought 130 million DOGE in a single day, suggesting confidence in future price appreciation.

Bitinfocharts data shows an uptick in wallet addresses holding between 0 and 1 DOGE, hinting at renewed retail interest.

Community News: Wu Blockchain reports a large 95.5 million DOGE unlock, valued at nearly $23 million, is scheduled between July 28 and Aug. 4.

This cliff unlock could exert short-term selling pressure, accounting for 0.06% of DOGE’s circulating supply.

Despite the potential dilution, DOGE remains resilient thanks to its high liquidity and consistent trading activity.

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• Dogecoin Is Back in Historic Buying Zone That Triggered Bull Runs — Is It a Good Time To Buy

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