Small DOGE holders have been quietly offloading positions over the past week. Addresses holding between 100 and 100,000 DOGE sold over 80 million tokens, worth approximately $7.2 million, within seven days. Coin Days Destroyed data reveals that long-term holders are also showing signs of impatience. CDD spikes over the past 11 days have exceeded anything recorded throughout February, indicating that dormant DOGE is being moved with increasing frequency.
Long-term holders carry disproportionate influence over Dogecoin’s price trajectory. Dogecoin is trading at $0.091 within a descending wedge pattern, a formation that historically precedes bullish reversals. The technical setup appears primed for a breakout rally. However, the weakening conviction from both retail and long-term holders introduces meaningful risk that this pattern resolves to the downside instead.
The Money Flow Index is forming a bullish divergence against price. While DOGE prints lower lows, MFI is registering a higher low — a classic signal that selling pressure is exhausting itself. Should the MFI divergence resolve bullishly, Dogecoin would be positioned to break out of the descending wedge with conviction.
A successful breakout would flip $0.103 from resistance into support, invalidating the bearish thesis and opening the door to a more sustained recovery. That confirmation would mark a meaningful shift in DOGE’s technical structure.
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