Dogecoin (DOGE) Price Pullback May Be Ending, but One Risk Remains
The Dogecoin worth has had a uneven week. The meme coin is up practically 7% over the previous seven days, but that acquire has been worn out by an nearly 7% drop up to now 24 hours. The pullback mirrors a broader crypto market cooldown, but Dogecoin’s setup appears barely totally different.
On the charts and on-chain, a mixture of accumulation and promoting danger paints a cut up image. While short-term weak point stays, hidden bullish alerts counsel the pullback could also be cooling off — although not with out one lingering risk.
Whales Add DOGE, but Exchange Balances Flash a Warning
Whale exercise has quietly turned constructive. Wallets holding 10 million to 100 million DOGE have elevated their holdings from 24.20 billion DOGE on October 2 to 24.33 billion DOGE — an addition of round 130 million DOGE, roughly $32 million on the present Dogecoin worth.
That type of regular shopping for from mid-size whales usually acts as price support, particularly throughout unstable swings.
But the optimism is checked by one necessary metric: trade balances. Data from Glassnode reveals the % steadiness of DOGE on exchanges sitting at 17.7%, near the multi-year high reached on September 20.
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Historically, such peaks in trade balances have usually preceded notable corrections. For instance, when trade balances hit 15.57% on Apr 1, 2024, Dogecoin quickly dropped by about 55% within the following months. The same sample appeared after the 17.1% high on Dec 9, 2024, which was adopted by a roughly 65% decline by Apr 2025.
This stage means a bigger share of the overall provide stays on exchanges — cash that may be simply bought. So whereas whales are absorbing a few of the provide, a portion of the market nonetheless appears ready to take earnings or make exits.
The distinction between whale accumulation and elevated trade balances displays the push-pull between confidence and warning. It’s this danger that retains the lower cost ranges zone in play regardless of the supposed exhaustion of the pullback.
Dogecoin Price Chart Hints at Pullback Exhaustion
Dogecoin’s 4-hour chart shows the price respecting an ascending help line inside a rising wedge sample. The latest bounce from $0.246 suggests patrons are defending that trendline.
Between Sept 30 and Oct 7, the Dogecoin worth made the next low, whereas the Relative Strength Index (RSI) — which tracks momentum — shaped a decrease low. This hidden bullish divergence usually alerts that sellers are shedding energy and that an uptrend might resume.
If the help round $0.246 holds, the Dogecoin worth might try a rebound towards $0.257, $0.270, and $0.278. But if it fails and a 4-hour candle closes below the decrease trendline, led by the trade steadiness danger enjoying out, a drop towards $0.234 and even $0.226 can’t be dominated out.
It is price noting that within the 4-hour timeframe, the Dogecoin price structure nonetheless leans bearish. The smallest of damaging catalysts might result in a worth drop.
For now, the information factors to a market cooling off, not collapsing. Whether the Dogecoin worth pullback actually ends is dependent upon how lengthy whales preserve shopping for earlier than retail merchants begin following their lead.
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