Dogecoin Volume Drops Amid Market Selloff, Whales Accumulate Near $0.081 Support

Precedent & Market Context

Dogecoin is nearing its first death cross of 2026, a signal that may indicate a weakening trend. However, whales have accumulated 600 million DOGE near $0.081 support, which could limit the impact of the death cross. The broader crypto market continues to face selling pressure, with Bitcoin and Zcash also experiencing significant price movements.

Main Event

Dogecoin's trading volume dropped 49% in the past 24 hours to $607 million, with investors weighing hotter-than-expected inflation data and Federal Reserve Chairman Kevin Warsh's latest comments on interest rates. The inflation data comes two weeks ahead of the next interest rate decision, with Fed Chairman Warsh on Thursday declining to offer any signals as to whether there will be another interest rate hike this month. DOGE is currently trading down to $0.079.

Analysis & Market Impact

The drop in trading volume might suggest a temporary slowdown in participation, particularly during weekends when activity across digital asset markets may ease. However, the accumulation of 600 million DOGE near $0.081 support by whales could limit the impact of the death cross. If support holds and buyers return, the next levels to watch for Dogecoin are $0.087 and the setup resistance trendline near $0.094.

Implications & Outlook

Dogecoin's price has been declining broadly from a high of $0.097 on October 4, 2026, with the drop causing it to fall below its 50 and 200 daily moving averages. The daily RSI is now at 34, indicating an oversold condition. If the Dogecoin price rebounds, the $0.081 level remains one to watch, with so many tokens changing hands at this price. The URPD data shows about 36 billion DOGE were previously traded around $0.081. Whales appear to be buying near $0.081, as since October 12, large holders have reportedly added about 600 million DOGE. Support is expected in the $0.07 range if the price declines further.