Recently, the Dogecoin ($DOGE ) market has experienced a significant sell-off by large holders, a phenomenon contrary to the market's anticipated accumulation trend. According to on-chain data analysis by IntoTheBlock, both the number and amount of large transactions have shown a notable decline. Although in October, the trading price of DOGE slightly increased to about $0.1329, the selling activities of these large holders could indicate that the market is about to face a price adjustment.

In recent days, the main trading amounts and volumes of DOGE have significantly decreased, which may reflect a shift in the behavior of market whales. This shift could be related to the market's future expectations for DOGE, especially after the price of DOGE has risen for some time. The selling behavior of whales may lead to an increase in the supply of DOGE in the market, thereby putting pressure on the price.

Additionally, the trading dynamics of DOGE also show some changes. For example, trading volumes increase when prices rise and decrease when prices fall, indicating a strong buying momentum in the market. However, with the reduction in whale activities, this momentum may be affected, thus impacting DOGE's short-term price trends.

Market analysts point out that after experiencing a period of selling pressure, buyers may have begun to intervene, possibly due to a change in the overall sentiment of the cryptocurrency market, with investors looking for opportunities to buy at lower prices. Nevertheless, the bullish market structure of Dogecoin brings some optimism, but low trading volumes and whale sell-offs raise doubts about the likelihood of a significant rebound. Bitcoin's pullback could further suppress market sentiment, especially considering the strong correlation between them. Investors should proceed with caution and pay attention to price trend confirmations and volume support before making any trading decisions.