$0.18 Support Snaps as Whales Offload

Dogecoin broke below the key $0.18 level on Tuesday, as the whale distribution accelerated, sharply diverging from the broader market strength. The meme coin slipped 1.3% to $0.1740 as Bitcoin and major altcoins posted gains, confirming that institutional flows — not market sentiment — dictate DOGE’s trajectory.

News Background

• DOGE fell from $0.1855 to $0.1740 in the 24-hour session on Tuesday, extending its underperformance against the CD5 index by more than 2%.
• The crash accelerated at 03:00 UTC as volume spiked to 1.10 billion tokens – 183% above the 24-hour average – prompting a clean breach of the $0.18 support zone.
• Resistance hardened near $0.1870, with three failed recovery attempts throughout the day.
• Data on the Santiment chain confirmed that wallets containing between 10 million and 100 million DOGE collectively downloaded 440 million tokens in 72 hours, reducing their supply share from 15.51% to 15.15%.
• This represents one of the largest mid-level whale liquidations in recent months.

Price Action Summary

• DOGE’s decline unfolded through consecutive distribution phases, each accompanied by high volume peaks.
• The initial break through $0.18 triggered a liquidation cascade towards session lows at $0.1755 before short-term buyers settled prices near $0.1740.
• The trading range of $0.0135 – about 7.3% intraday volatility – reflects institutional repositioning rather than panic selling.
• Analysts said the pattern suggests structural rotation rather than a broad capitulation, but market breadth continues to deteriorate as the token breaks away from the broader uptrend.

Technical analysis

• Technically, DOGE is at a binary inflection point. The $0.18 level represents both a structural pivot and the lower boundary of the prevailing ascending channel dating back to mid-August.
• Holding this support could open a path of recovery towards $0.26-$0.33, but a confirmed failure risks acceleration towards the accumulation cluster of $0.07, where about 18.6% of the total supply (28.3B DOGE) took place in the last transaction.
• Meanwhile, resistance at $0.1870-$0.1900 remains intact after repeated rejections.
• Strong volume growth on the breakout, combined with declining open interest, reinforces the view that leveraged positions have been unloaded as spot sellers continue to unload.

What traders need to know

• Dogecoin’s short-term outlook depends on whether the bulls can defend the base of the $0.18 channel.
• Analyst Ali Martinez noted that “the fate of DOGE could depend on this level – the failure risks a drop towards $0.07, while the defense could ignite a recovery to $0.26 or more”.
• With whaling activity reducing in the closed metric and distribution plan, short-term stabilization remains possible.
• However, traders warn that sustained price action below $0.18 will confirm a structural break, invalidating the bullish to medium thesis that dominated the October flows.