Dogecoin Faces Decline As Whale Transactions Drop, Bearish Trend Intensifies

2 min read | February 10, 2025 01:24 AM EST | By Team Kalkine Media

Google News:

Dogecoin Faces Decline As Whale Transactions Drop, Bearish Trend Intensifies — Image source: shutterstock

Recent News

Brookfield Valuation Debate Intensifies After Major Capital Moves

Canadian National Railway Valuation Question Emerges After Strong Rall...

Pan American Silver Skarn Plan Brings Growth Story Back Ahead

Bank of Montreal Banking Strategy Faces New Digital Growth Moment

Make Kalkine Media
My Trusted Source

Highlights:

Dogecoin’s price has continued to dip below key levels, reflecting bearish trends.

Whale transactions have fallen sharply, signaling decreasing market activity and weakness.

Bitcoin, Ethereum, and Ripple are also facing declines, with further corrections anticipated across major cryptos.

Dogecoin, known for its meme origins, has experienced a significant pullback recently, trading near lower levels. The cryptocurrency has been facing headwinds, and its momentum indicators are showing signs of weakening. DOGE’s price remains around $0.24, reflecting a decrease of over 7% in the past week, and further corrections are possible as its technical outlook presents signs of bearish divergence. Data from Santiment reveals a notable decline in whale transactions involving Dogecoin, which may be contributing to the cryptocurrency's struggles.

Bitcoin, Ethereum, and Ripple's Downward Trajectory
Alongside Dogecoin’s struggles, Bitcoin, Ethereum, and Ripple have also been experiencing downward pressure. Bitcoin’s price recently dipped below $96,000, continuing a trend of declines. Ethereum and Ripple followed suit, with each cryptocurrency falling more than 7% in the past week, indicating continued corrections in the broader market.

Despite their long-standing dominance in the market, all three cryptos seem to be grappling with a broader bearish trend, with key support levels being tested. While the exact future of each coin remains uncertain, the recent declines indicate that investors and market participants may need to brace for continued volatility.

Ripple’s Gains Amid New Developments
Despite the broader decline in the cryptocurrency market, Ripple’s XRP saw a small gain recently, rising by 4%. This uptick followed news of a new development concerning XRP Depository Receipts. These receipts, set to launch in the United States, will allow investors to gain exposure to XRP’s price movement, much like exchange-traded funds (ETFs).

The involvement of major investment firms such as Receipts Depository Corp and Digital Wealth Partners in this project has garnered attention and sparked optimism among some market participants. Additionally, Ripple's CEO Brad Garlinghouse is set to join the White House crypto council, further raising expectations for the company’s role in shaping future regulatory frameworks.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.