Dogecoin risks further decline as whales dump 750 million DOGE

Key takeaways

  • Dogecoin (DOGE) trades around $0.068 on Wednesday, recovering slightly after falling to a new yearly low of $0.066 during the previous session.
  • Santiment data shows that whale wallets holding between 100,000 and 100 million DOGE collectively offloaded 750 million tokens since November 3.
  • A breakdown below $0.065 could trigger further losses, while buyers must reclaim $0.077 and $0.079 to improve the cryptocurrency’s technical outlook.

Dogecoin (DOGE) is attempting a modest recovery on Wednesday after falling to its lowest price of the year, but persistent whale selling and weakening market indicators suggest that the meme coin remains vulnerable to further losses.

DOGE trades around $0.068, slightly above Tuesday’s yearly low of $0.066, as buyers attempt to stabilize the cryptocurrency following its latest decline.

However, on-chain data shows that large holders have been reducing their exposure, adding to selling pressure at a time when broader market sentiment remains fragile.

With Dogecoin trading below its major moving averages, the $0.065 support level could determine whether the cryptocurrency stabilizes or extends its broader correction.

Dogecoin whales sell 750 million DOGE as confidence weakens

Large Dogecoin holders have continued reducing their positions, contributing to the meme coin’s recent price weakness.

According to Santiment’s Supply Distribution data, three categories of whale wallets have collectively offloaded approximately 750 million DOGE since November 3.

These include wallets holding between 100,000 and 1 million DOGE, those controlling between 1 million and 10 million tokens, and larger addresses holding between 10 million and 100 million DOGE.

The decline in holdings across these groups suggests that substantial market participants have been reducing their exposure rather than accumulating during the downturn.

For Dogecoin, the latest selling activity coincides with a broader decline that pushed the cryptocurrency to a new yearly low.

Broader on-chain indicators reinforce the cautious outlook for Dogecoin. According to CryptoQuant’s market summary, both DOGE spot and futures markets are showing large whale orders alongside elevated trading activity.

The platform also identifies sell-side dominance across both markets, suggesting that selling pressure continues to outweigh buying interest.

The combination of large orders and heightened market activity can indicate that major participants are actively repositioning during periods of volatility.

The weakness in both spot and derivatives markets is particularly notable because it indicates that bearish sentiment is not limited to a single category of traders.

Dogecoin technical outlook: DOGE hits new yearly low of $0.066

Dogecoin’s technical outlook remains bearish following its decline to a new yearly low. At the time of writing on Wednesday, DOGE trades around $0.068, recovering slightly after touching $0.066 during the previous session.

Despite the modest rebound, the cryptocurrency continues trading below its major Exponential Moving Averages (EMAs), indicating that sellers retain control of the broader trend.

The 50-day EMA stands near $0.079, while the 100-day EMA is positioned around $0.081.

Meanwhile, the longer-term 200-day EMA sits at approximately $0.088, creating another significant resistance barrier above the current market price.

Trading below all three moving averages reflects the weakness in Dogecoin’s technical structure and suggests that recovery attempts could encounter renewed selling pressure.

Momentum indicators also support the bearish outlook. The daily Relative Strength Index (RSI) has declined into the low-30s, indicating weak buying momentum and suggesting that DOGE is approaching oversold territory.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative below the zero line, indicating that bearish momentum continues to dominate.

The combination of weak momentum and overhead resistance suggests that Dogecoin’s recent recovery may remain limited unless buying demand improves.

Dogecoin faces an important technical test as its price approaches the $0.065 support level. This horizontal support represents the next significant downside threshold following Tuesday’s decline to $0.066.

If DOGE fails to defend $0.065, sellers could regain momentum and push the cryptocurrency toward fresh yearly lows.

A decisive breakdown below this level would reinforce the broader bearish trend and suggest that the recent recovery attempt has failed.

DOGE/USD Daily Chart

Despite the prevailing bearish conditions, Dogecoin could attempt a short-term recovery if buyers begin accumulating near current levels.

The first resistance stands around $0.068, where the cryptocurrency is currently trading. A sustained move above this level could encourage buyers to target the next horizontal resistance at $0.077.

Beyond this barrier, the 50-day EMA near $0.079 represents another important hurdle. A breakout above the 50-day EMA would improve Dogecoin’s short-term technical structure and potentially open the door for a recovery toward the 100-day EMA at $0.081.

Further resistance stands at the 200-day EMA near $0.088, followed by the stronger horizontal barrier around $0.102.

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Solana could dip to $74 as Fed rate-hike odds hit 99%

Key takeaways

  • Solana (SOL) has declined 9% over the past seven days as US political uncertainty and growing expectations of tighter monetary policy weigh on cryptocurrency markets.
  • CME FedWatch data cited in the report shows the probability of a December Federal Reserve rate hike jumping from 84% to 99%.
  • SOL risks falling toward $74 or lower if the $80 support region fails, although an oversold Relative Strength Index (RSI) near 25 suggests a temporary recovery remains possible.

Solana (SOL) remains under significant selling pressure after losing approximately 9% of its value over the past week, with deteriorating market sentiment and weakening network activity raising concerns about further losses.

The cryptocurrency is approaching the important $80 support region as investors respond to rising expectations of a Federal Reserve interest rate hike in December.

Recent comments from Fed Governor Christopher Waller have reinforced expectations of tighter monetary policy, with the probability of a rate increase climbing to 99%, according to CME FedWatch figures cited in the report.

Fed rate-hike expectations jump to 99% after Waller’s comments

Expectations of tighter US monetary policy have intensified following hawkish remarks from Federal Reserve Governor Christopher Waller.

Speaking at a conference hosted by the Bank of England, Waller expressed support for another interest rate increase at the Federal Open Market Committee’s December meeting.

He indicated that even if inflation conditions improved compared with September, he would still favor raising the federal funds rate by 25 basis points.

Waller also suggested that more aggressive action could be necessary if inflation exceeded his expectations substantially.

The comments prompted a sharp adjustment in market expectations. According to CME Group’s FedWatch Tool figures cited in the report, the probability of a December rate hike increased from 84% the previous day to approximately 99%.

The shift suggests that traders increasingly expect the Federal Reserve to maintain a restrictive monetary policy stance.

For cryptocurrencies, higher interest rates can create a challenging investment environment.

Solana price forecast: SOL risks falling to $74 if $80 support breaks

Solana’s technical outlook remains bearish as the cryptocurrency approaches an important support region around $80.

On the daily chart, SOL is nearing a fair value gap (FVG) formed during the August rally.  For Solana, the current FVG could provide an important demand zone where buyers attempt to defend the cryptocurrency.

However, a decisive breakdown below the support region would weaken the technical structure further.

If SOL fails to stabilize around $80, the next significant downside target stands near $74. A sustained move below this level could expose the cryptocurrency to additional losses, although the supplied analysis does not identify a confirmed lower support target.

Momentum indicators also suggest that bearish pressure has intensified. The daily Relative Strength Index (RSI) has declined to approximately 23, placing Solana firmly in oversold territory.

An RSI below 30 generally indicates that selling momentum has become stretched, potentially increasing the likelihood of a temporary rebound.

SOL/USD Daily Chart

Despite the prevailing bearish conditions, Solana’s oversold momentum readings suggest that buyers could attempt a recovery near the current support region.

The $80 area remains particularly important because it coincides with a fair value gap that could attract buying interest.

A successful defense of this region could encourage a short-term rebound, potentially allowing SOL to recover toward its nearest significant resistance around $95.

Conversely, failure to defend $80 would increase the likelihood of a decline toward $74.

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Bitcoin could dip to $67k amid $1.3 billion ETF outflows

Key takeaways

  • Bitcoin (BTC) trading volume surged more than 200% over 24 hours as the cryptocurrency fell toward $75,000. 
  • US spot Bitcoin ETFs recorded approximately $1.3 billion in weekly net outflows, while the Crypto Fear and Greed Index dropped to 28. 
  • Bitcoin risks extending its decline toward $71,500 and $67,000 after losing its 200-day Exponential Moving Average (EMA). 

Bitcoin (BTC) remains under heavy selling pressure as trading activity surges and investors reassess the cryptocurrency market’s outlook following the US midterm elections.

The world’s largest cryptocurrency recently fell toward $75,000, triggering a sharp increase in market activity. 

Bitcoin’s trading volume jumped more than 200% over 24 hours, reflecting heightened volatility as traders reacted to deteriorating sentiment and significant leveraged position liquidations.

Bitcoin ETF outflows reach $1.3 Billion as institutional investors retreat

Institutional demand for Bitcoin has weakened sharply, with US spot ETFs recording substantial withdrawals during the latest market correction.

According to SoSoValue, Bitcoin ETFs experienced approximately $1.3 billion in net outflows over the past week.

The outflows continued, with another $201.80 million withdrawn from the funds on Monday. 

The persistent redemptions suggest that institutional investors are becoming increasingly defensive amid regulatory uncertainty and broader cryptocurrency market weakness.

Consequently, sustained withdrawals can influence market sentiment and potentially increase selling pressure.

The latest outflows also suggest that Wall Street investors are adopting a more cautious approach toward cryptocurrency investments.

The deterioration in market sentiment is also reflected in the Crypto Fear and Greed Index.

The widely followed sentiment indicator has declined to 27, placing the cryptocurrency market firmly in Fear territory.

This represents a substantial shift from approximately 45 days earlier, when the index reached 80, indicating Extreme Greed.

The sharp reversal suggests that investors have moved from aggressive risk-taking toward a more defensive approach.

The Fear and Greed Index considers several market indicators, including volatility, momentum, trading activity, and broader investor sentiment.

Bitcoin technical outlook: BTC risks falling toward $67,000

Bitcoin’s technical outlook has weakened considerably following its recent decline toward $75,000.

The cryptocurrency briefly rebounded from the psychological support level during the latest trading session, but its broader structure remains bearish after falling below the 200-day Exponential Moving Average (EMA).

Trading below this moving average suggests that Bitcoin’s previous bullish momentum has weakened, potentially encouraging additional selling.

Momentum indicators reinforce the negative outlook. The daily Relative Strength Index (RSI) has fallen below 40, indicating deteriorating buying momentum and suggesting that sellers remain in control.

If Bitcoin fails to reclaim the $75,000 resistance level, the next important downside target lies around $71,500.

This region corresponds to a fair value gap (FVG) formed during the August rally, where previous price imbalances could attract buying interest.

A decisive breakdown below $71,500 would expose the next major support zone around $67,000. Both levels represent important technical areas that could determine whether Bitcoin stabilizes or extends its broader correction.

BTC/USD Daily Chart
BTC/USD Daily Chart

Bitcoin’s ability to hold the $71,500 and $67,000 support zones could prove critical for its near-term outlook.

A successful rebound from either zone could help stabilize sentiment and potentially encourage a recovery toward $75,000.

However, failure to hold $67,000 would represent a more significant technical setback. Such a breakdown could open the door for a deeper correction toward $60,000, a major psychological support level associated with previous market activity.

Conversely, a sustained recovery above $75,000, accompanied by stronger trading demand and improving ETF flows, would provide an early indication that selling pressure is easing.

For now, Bitcoin’s technical outlook remains bearish while BTC struggles below its 200-day EMA, with $71,500 and $67,000 emerging as the most important downside support levels.

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Ethereum risks falling to $1,970 as Buterin challenges ETH fee-burning narrative

Key takeaways

  • Ethereum (ETH) is up 1.3% on Tuesday as co-founder Vitalik Buterin sparked debate over the cryptocurrency’s long-term value proposition.
  • Bitmine Immersion Technologies acquired another 9,587 ETH, increasing its holdings to 6.07 million tokens, representing approximately 4.97% of Ethereum’s circulating supply.
  • ETH risks extending its decline toward $1,971 if the $2,101 support level fails, while resistance remains at $2,204 and $2,250.

Ethereum (ETH) has slightly recovered on Tuesday following renewed selling pressure on Monday.

The performance comes as investors weighed a debate over the cryptocurrency’s long-term value proposition following comments from co-founder Vitalik Buterin.

Vitalik Buterin questions Ethereum’s fee-burning investment narrative

Buterin argued that Ethereum’s investment appeal should rest primarily on its ability to function as a secure, decentralized store of value rather than the amount of ETH removed from circulation through transaction fee burning.

Ethereum’s fee-burning mechanism has played an important role in shaping the cryptocurrency’s investment narrative since the introduction of EIP-1559 in August 2021.

The upgrade introduced a system that permanently removes the base transaction fee from circulation, reducing the amount of ETH available in the market.

During periods of elevated network activity, transaction fee burning can exceed new token issuance, temporarily making Ethereum’s supply deflationary.

However, Buterin challenged the strength of this argument in a Sunday post on X, suggesting that investors have placed too much emphasis on fee burning as a measure of Ethereum’s economic value.

He explained that much of Ethereum’s historical transaction fee revenue originated from cryptocurrency-related activities, making it closely tied to the broader digital asset market.

Buterin further warned that prioritizing higher fee revenue could create incentives for increased transaction costs, greater protocol spending, and more interventionist governance.

Such developments could undermine the decentralization and neutrality that distinguish Ethereum from traditional financial infrastructure.

Buterin proposed that Ethereum’s long-term value should be anchored in its fundamental properties, particularly as artificial intelligence development accelerates.

He highlighted a framework known as CROPS, representing censorship and capture resistance, open source, privacy, and security.

According to Buterin, these characteristics could become increasingly important in a world where AI systems play a greater role in financial transactions and digital infrastructure.

Bitmine Ethereum holdings reach 6.07 million ETH

Bitmine Immersion Technologies announced on Monday that it acquired an additional 9,587 ETH over the previous week, increasing its total holdings to approximately 6.07 million tokens.

The company’s Ethereum treasury now represents roughly 4.97% of the cryptocurrency’s estimated circulating supply of 122.2 million ETH.

The latest purchase brings Bitmine closer to its stated objective of accumulating 5% of Ethereum’s total circulating supply.

Beyond its substantial holdings, the company reported maintaining approximately 5.227 million ETH in staking positions through its Made in America Validator Network (MAVAN).

Ethereum price forecast: ETH bears target $1,971 support

Ethereum’s technical outlook remains bearish as the cryptocurrency continues trading below its major Exponential Moving Averages (EMAs).

On the daily chart, ETH remains below its 20-day, 50-day, and 100-day EMAs, which are clustered between approximately $2,291 and $2,371.

The position beneath these moving averages suggests that sellers continue to dominate the broader market structure, with recovery attempts likely to encounter resistance.

Momentum indicators reinforce the negative outlook. The 14-day Relative Strength Index (RSI) hovers near 31, indicating weak buying momentum and suggesting that Ethereum is approaching oversold territory.

Meanwhile, the Stochastic Oscillator stands near 9, reflecting more pronounced oversold conditions.

On the downside, Ethereum faces immediate support around $2,101. A decisive breakdown below this level could accelerate the decline toward $1,971, representing the next significant support zone.

If sellers maintain control and ETH fails to stabilize around $1,971, the cryptocurrency could extend its correction toward $1,827.

ETH/USD Daily Chart
ETH/USD Daily Chart

Despite the prevailing bearish conditions, Ethereum could attempt a short-term rebound if buyers begin accumulating around current support levels.

The first significant resistance stands at $2,204, which ETH must reclaim to establish an initial improvement in momentum.

A sustained recovery above this barrier could open the door for a move toward $2,250, followed by the 20-day EMA near $2,291.

Additional resistance is concentrated around the 100-day EMA and the 2,355–2,371 region, creating a substantial overhead supply zone.

A convincing breakout above this cluster would represent a more meaningful improvement in Ethereum’s technical outlook and could indicate that selling pressure is beginning to weaken.

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Cardano whales dump 50 million tokens amid bearish sentiment

Key takeaways

  • Cardano (ADA) trades below $0.175 on Monday after declining more than 9% last week. 
  • Large Cardano whales holding between 10 million and 100 million ADA have offloaded approximately 50 million tokens since November 4, signaling weakening confidence.
  • ADA risks extending its decline toward $0.156 as bearish technical indicators persist, while immediate resistance stands at $0.183.

Cardano (ADA) remains under pressure on Monday, trading around $0.1748 after recording five consecutive weeks of losses. 

The cryptocurrency declined more than 9% last week, extending a downturn that began in early October as selling pressure continues to outweigh buying interest.

Cardano whales dump 50 million ADA tokens

Cardano’s largest investors have continued reducing their holdings, raising concerns about the cryptocurrency’s near-term price outlook.

According to Santiment’s Supply Distribution data, wallets holding between 10 million and 100 million ADA have collectively offloaded approximately 50 million tokens since November 4.

The decline suggests that this group of large holders has become increasingly cautious amid Cardano’s prolonged price weakness.

Beyond whale distribution, Cardano’s broader on-chain and trading indicators continue to reflect cautious market sentiment.

CryptoQuant’s market summary highlights significant whale orders across ADA’s spot and futures markets, accompanied by overheating conditions and sell-side dominance.

The combination suggests that large market participants remain active, but selling activity continues to outweigh buying interest.

Cardano technical outlook: ADA bears target the $0.156 support

Cardano’s technical outlook remains unfavorable as the cryptocurrency struggles to recover from five consecutive weeks of losses.

At the time of writing on Monday, ADA trades around $0.1748, remaining firmly below its major Exponential Moving Averages (EMAs).

The 50-day EMA stands at $0.209, while the 100-day EMA is positioned at $0.211. Meanwhile, the longer-term 200-day EMA sits considerably higher at $0.232.

The recent recovery attempt from below $0.180 has done little to change the broader technical structure, suggesting that the rebound may represent temporary consolidation rather than the beginning of a sustained bullish reversal.

Momentum indicators also point to continued weakness. The daily Relative Strength Index (RSI) hovers near 30, approaching oversold territory while indicating that selling momentum remains dominant.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative, reinforcing the cautious outlook.

If ADA fails to attract stronger buying interest, sellers could push the price toward the horizontal support level at $0.156.

A decisive breakdown below this area would weaken the technical structure further and potentially expose Cardano to a deeper correction.

ADA/USD Daily Chart
ADA/USD Daily Chart

However, Cardano could attempt a short-term recovery if buyers defend current price levels. The first significant resistance stands at $0.183, which ADA must reclaim to establish an initial improvement in momentum.

A sustained breakout above this level could encourage buyers to target the 50-day EMA at $0.209, followed closely by the 100-day EMA at $0.211.

However, these moving averages form a concentrated resistance zone that could attract renewed selling pressure.

Beyond this area, the 200-day EMA around $0.232 represents another major hurdle. Additional resistance levels are located at $0.236 and $0.245, while a more substantial recovery could eventually bring the $0.296 region into focus.

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