TLDR
- Dogecoin price is stuck at $0.17 after falling 32% from the recent high of $0.25.
- A total of 200 million DOGE has been moved to the OKX exchange from an unknown wallet.
- The Age Consumed metric shows older DOGE coins are now entering the market after long dormancy.
- The long-to-short ratio has dropped below 1, which signals that short sellers dominate the market.
- Dogecoin has been trading in a tight range between $0.16 and $0.20 for the past two weeks.
Dogecoin price continues to struggle after dropping from its recent swing high, facing mounting pressure from rising exchange inflows. The meme coin currently trades at $0.17, down 32% from its May 11 high of $0.25. Growing bearish signals now point to more downside risk as on-chain and derivatives data show increasing sell-side activity.
Whale Activity Threatens Dogecoin Price Stability
A large transfer of 200 million DOGE to the OKX exchange has raised alarms among investors and traders. The tokens, worth over $35 million, came from a single unknown wallet, indicating potential sell-off intentions. Such a move usually suggests that a large holder is preparing to liquidate, increasing supply on the market.
???? ???? 200,000,000 #DOGE (35,917,954 USD) transferred from unknown wallet to #OKEXhttps://t.co/bvcHs83UGi
— Whale Alert (@whale_alert) June 14, 2025
This influx of DOGE aligns with a spike in the Age Consumed metric, highlighting older coins moving after long dormancy. Historical trends show that this pattern often reflects profit-taking from long-term holders. The increased exchange inflow, combined with aged coin movement, strengthens the current bearish outlook for Dogecoin price.
Short Sellers Maintain Pressure Across Derivatives Market
The derivatives market reflects bearish sentiment, as the long/short ratio has dropped to 0.95 and remains below 1. Short sellers continue to dominate Dogecoin futures, even after the recent price correction. This suggests that most traders expect further downside and are holding their bearish positions.
Trading volumes reached $936 million on July 14, yet buyers have failed to push the price above $0.20. Despite some consolidation between $0.16 and $0.20, sellers continue to suppress any recovery. Dogecoin price remains vulnerable as downward pressure builds on weak market confidence.
Consolidation Persists Amid Falling Volatility
Dogecoin has been range-bound for two weeks, indicating hesitation from both bulls and bears to commit. Volatility has dropped significantly, which usually precedes a sharp move in either direction. However, without new demand, the price may continue to test the lower end of the range.
If selling pressure from whales slows, the price could stabilize and begin to climb. For now, however, indicators suggest that Dogecoin price is still under stress and lacks support. Sustained accumulation would be needed to absorb the excess supply and lift prices higher.
