Dogecoin Volume Spike To $2 Billion Might Be Bearish, Here’s Why
The post Dogecoin Volume Spike To $2 Billion Might Be Bearish, Here’s Why appeared com. Dogecoin (DOGE) is experiencing heightened turbulence as on-chain metrics reveal a $2 billion surge in trading volume and an increase in whale movements. While such explosive market activity may be misconstrued as bullish, deeper analysis suggests a more bearish atmosphere, as large holders offload their positions amid waning retail demand. With DOGE prices consolidating near critical levels after its recent breakdown, analysts warn of an impending continuation of the downtrend as key supports fail to hold. Dogecoin $2 Billion Volume Surge Raises Red Flags On-chain data from TradingView has revealed a significant surge in Dogecoin’s trading activity, with volume climbing as high as 62% and exceeding $2 billion on Tuesday, November 3. Despite the apparent increase in market participation, the underlying signals from oscillators, Moving Averages (MA), and pivot indicators collectively point toward “strong” selling pressure. Notably, much of this heightened activity has been attributed to large holders liquidating their positions amidst broader market weakness, contributing to the already substantial wave of sell volume. TradingView data shows that Dogecoin’s price has been in a decline during this increase in market activity, highlighting the underlying bearishness fueled by increased selling activity. DOGE’s price has been consolidating between $0. 17 and $0. 21 since mid-October 2025, forming a tight price range. However, with its recent volatility, its price has dropped below its former consolidation range and is now trading around $0. 16, at the time of writing. TradingView confirms that Dogecoin’s previous range-bound behavior and its consistent price decline are being driven by whale distribution rather than accumulation. To support this claim, recent reports from crypto analyst Ali Martinez revealed that over 1 billion DOGE were sold by whales within a single week. And just the week before, these large-scale investors had initiated a $500 million DOGE liquidation. This escalating sell pressure has effectively weakened. Continue reading Dogecoin Volume Spike To $2 Billion Might Be Bearish, Here’s Why