Alex Dudov
⬤ Whale activity on Dogecoin has taken a nosedive lately, with on-chain data showing large transactions hitting a two-month low. Transfers above $1 million have been steadily dropping while DOGE continues hovering near the bottom of its multi-month range.
⬤ The data shows a consistent drop in high-value transfers through late October and November, way different from those sharp spikes we used to see during volatile periods. DOGE has been sliding from around $0.20 down toward the $0.15 zone during this same timeframe. Even when the price tried bouncing back a few times, whale activity kept declining—meaning big holders aren't jumping back in.
⬤ Here's the thing: whale activity often signals what major holders are thinking. These sustained low transaction counts could mean consolidation or weakening conviction among large DOGE players, especially when price momentum is struggling. The fact that whales haven't stepped in during recent dips suggests the broader market is playing it safe right now.
⬤ This matters because DOGE historically makes big moves when whale activity heats up. If high-value transfers stay this low for much longer, we might see reduced short-term volatility and delayed accumulation behavior. Traders will be watching closely to see if whale engagement starts picking up again—that could be the first sign momentum is shifting back in Dogecoin's favor.
Alex Dudov
