Dogecoin (DOGE) whales pose a threat: Sales could increase.

Onchain data for Dogecoin (DOGE) shows that large investors are selling.

IntoTheBlock’s “Large Holder Netflow” metric shows an interesting trend among addresses that own at least 0.1 percent of the #Dogecoin circulating supply. Netflow is essentially the difference between the amount of tokens entering whale wallets and the amount of tokens leaving whale wallets. A positive netflow indicates a period of accumulation by whales, while a negative netflow indicates a significant outflow from their wallets.

According to this metric, net flow has decreased by 57.29 percent in the last seven days. In addition, this metric shows decreases of 169.46 percent and 166.98 percent in the 30-day and 90-day timeframes. The sharp declines indicate that many large investors are reducing their Dogecoin positions. The downturn in #DOGE would likely wear out the patience of major investors.

Further supporting this trend is the “Crypto Exchange Netflow” metric, which tracks the movement of $DOGE tokens into and out of exchange wallets. Accumulation periods are indicated by a negative Crypto Exchange Netflow, as more tokens move from exchanges to wallets. A positive Crypto Exchange Netflow usually indicates increased selling pressure.

In the last 24 hours alone, the total amount of #Dogecoin on crypto exchanges increased by 86.33 million. Similarly, exchange balances have increased by 93.2 million Dogecoins in the last 30 days. If the downturn in the market continues, various metrics related to the pair are also likely to be in danger.