Key Highlights
- DOGE price declined more than 5% over 24 hours, currently trading near $0.091
- Eight consecutive days of zero net flows recorded across Dogecoin ETF products
- Retail traders acquired approximately 4.5 million DOGE tokens on Kraken during recent pullback
- Technical analysis reveals death cross formation, typically interpreted as bearish momentum
- Dogecoin mining integration with Qubic platform confirmed for April 1, 2026 launch
Dogecoin has experienced a significant pullback exceeding 5% over the last day, with the meme coin currently changing hands around the $0.091 mark. This downturn mirrors broader cryptocurrency market weakness, as overall digital asset market valuation decreased 1.18% to settle at $2.4 trillion.
The cryptocurrency continues holding above the critical $0.092 support threshold, though mounting downward pressure threatens this level. Technical indicators paint a concerning picture—the Relative Strength Index currently registers around 41, while the MACD demonstrates early signs of bearish divergence. Market observers suggest bulls must push DOGE back above $0.095 to shift momentum.
Charts also display a death cross pattern, occurring when shorter-term moving averages dip beneath longer-term counterparts. Technical traders typically interpret this formation as indicating potential downside ahead.
Institutional Money Remains Sidelined
According to tracking data from SoSoValue, Dogecoin exchange-traded fund products have registered absolutely no net capital movement for eight straight trading days. Neither inflows nor outflows have been recorded during this period.
This stagnation suggests institutional participants remain uncommitted despite recent volatility. Market commentators interpret this freeze differently—some view the standstill as hesitation, while others consider the absence of withdrawals as evidence that current holders anticipate price appreciation.
The contrast between institutional and retail market behavior is striking. While ETF channels showed zero activity, individual traders on Kraken purchased nearly 4.5 million DOGE tokens within a 12-hour period as prices retreated.
Large Holders Accumulating on Weakness
Blockchain analytics from CryptoQuant reveal taker buy dominance persisting across leading trading platforms throughout the previous 90-day period. This metric indicates aggressive purchase orders have consistently exceeded selling pressure in spot trading venues.
This accumulation behavior has emerged repeatedly during recent downward moves. Market participants seem to view price weakness as strategic entry points rather than signals to exit positions. Technical strategists note that such sustained accumulation frequently precedes significant upward price movements, although no breakout has developed thus far.
Large wallet activity suggests anticipation of movement beyond the $0.10 threshold. DOGE faced resistance at this psychological level in recent trading sessions and has failed to reclaim it since.
The Qubic platform has officially announced its April 1 launch date for the Dogecoin mining initiative. According to company statements, every share generated through mining will undergo verification through Oracle Machines, which became operational on mainnet February 11. The Dogecoin mining feature represents the inaugural external proof-of-work application developed on this infrastructure.
The post Dogecoin (DOGE) Price Drops 5% as Large Holders Accumulate During Correction appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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