Dogecoin Price Prediction: DOGE Sinks to $0.1924 After 60M Selloff – Can It Rebound to $0.24?

Dogecoin slides to $0.1924 amid whale selloff and market volatility. Key support at $0.1855 may define next move.

Written by: Arslan Butt • Saturday, May 31, 2025 • 1 min read

Quick overview

Dogecoin's price has dropped to $0.1924, marking a 4.99% decline in 24 hours and its lowest since May 10.
A significant selloff by whale investors, who sold 60 million DOGE, has contributed to the price drop and reduced their holdings.
The broader crypto market has lost over $700 million in value, influenced by profit-taking and uncertainty surrounding ETFs.
Technical indicators suggest a bearish trend for DOGE, with key support levels at $0.1855 and resistance at $0.2155.

Dogecoin’s price has fallen to $0.1924, its lowest since May 10, down 4.99% in 24 hours. The broader crypto market has lost over $700 million in value, driven by profit taking and ETF uncertainty.

At the heart of DOGE’s price drop is whale activity: big holders sold 60 million tokens, reducing their collective holdings from 26.55 billion to 26.49 billion DOGE.

This $12 million selloff is a familiar pattern—whales exit before big drops and reenter before bounces.

Key points:

60 million DOGE whale selloff, same as past dips
Market-wide crypto loss of over $700 million in 24 hours
DOGE price breaks support levels, more selling

DOGE/USD

Dogecoin Technical Analysis Bearish

On the 4-hour chart, DOGE/USD indicators are bearish. The price has broken below the 50 EMA at $0.2155 and is now acting as resistance. The Fibs show DOGE struggling to get back above the 23.6% retracement at $0.1955, with the next support at $0.1855—the recent low.

Dogecoin Price Chart - Source: Tradingview — Dogecoin Price Chart – Source: Tradingview

The MACD is bearish, with widening gaps and red bars, and a Three Black Crows pattern.

Resistance: $0.2068, $0.2155
Support: $0.1855, with deeper levels at $0.1738 and $0.1646
Candlestick signals: Look for Bullish Engulfing or Hammer at $0.1855 for reversal

Until we see a strong reversal pattern with MACD convergence and the 50 EMA retest, I remain bearish.

Dogecoin Trading: Be Cautious, But Opportunities Exist

Long liquidations have increased ($21 million), and volume is up 50%, but it’s all sellers. Newbies should not jump in yet and wait for clear reversal signals at support. If DOGE reverses at $0.1855 with a bullish candle and MACD momentum shift, it could bounce to $0.2068 or even $0.2155. But without confirmation, DOGE will slide to $0.1738 or $0.1646.

Institutional developments (ETFs) may be long-term positives, but in the short term, they are fragile. Until buyers take control, be cautious.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.