Whales sell 400 million DOGE, Dogecoin loses $0.1 support: what's next?

Whales sell 400 million Dogecoins, causing Dogecoin to lose $0.1 support. What's next? As the largest meme cryptocurrency by market value, Dogecoin has been triggering a wave of speculation in the global cryptocurrency space.

It is worth noting that during this decline, a whale sold a staggering 400 million DOGE to Binance, causing the DOGE price to lose the key support level of $0.1. This triggered a great bearish sentiment in the market about the future upside potential of the asset.

At the same time, market sentiment turned bearish due to the massive sell-off by whales, highlighting the decline in investors' confidence in the asset's ability to provide returns in the short term. However, it is worth noting that the address still holds a large number of Dogecoins.

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At press time, DOGE price plunged 16.20% to $0.09563, with a 24-hour low of $0.09379 and a high of $0.1138.

According to Coinglass, DOGE's futures open interest (OI) fell 14.88% to $503.97 million, in line with the token's price decline

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