Dogecoin whales sell 750 million DOGE as the price clings to $0.068

Dogecoin was trading at around $0.068 on Wednesday lunchtime, roughly 0.061 euros, just above the 2026 low of $0.0666 it hit on Tuesday evening. According to CoinGecko market data, Dogecoin has lost 1.8 percent in 24 hours, 9.3 percent in seven days and 21.9 percent in 30 days. What stands out is who is selling in this phase: according to the analytics firm Santiment, wallets holding 100,000 to 100 million DOGE have together sold around 750 million tokens since November 3.

The facts are these: mid-sized and large addresses have been cutting their holdings for more than a week, while the price marks new lows and the futures market offers little resistance. Our assessment follows further down. As long as this selling continues, the price lacks the buyer who could carry a recovery. What that means for how you buy and store DOGE is set out in the sections below.

Santiment data: 750 million DOGE have left large wallets since November 3

The figure comes from Santiment's so-called supply distribution, reported on Wednesday by the news site CoinJournal. Santiment groups three cohorts together: addresses with 100,000 to one million DOGE, with one to ten million and with ten to 100 million DOGE. Combined, they hold around 750 million fewer tokens than on November 3. The report gives no breakdown by cohort.

At the current price of $0.068, 750 million DOGE are worth a little over $51 million. Against a total market capitalisation of around $10.7 billion, that looks small. For the price, though, the direction matters more than the sum. Over eight trading days, the very addresses that had bought in earlier recoveries provided no support. On November 3, Dogecoin was still moving between $0.075 and $0.078 on OKX; since then it has fallen by a good ten percent.

Supply distribution explained: wallet sizes are not people

The supply distribution counts how many tokens sit on addresses of a given size class. If the holdings of a class shrink, that group of addresses has given up tokens in aggregate. It is a measurement on the blockchain, not a survey and not an estimate.

Two caveats apply. First, an address is not a person. An exchange manages the balances of many customers on a few large addresses, and a single investor can spread coins across dozens of addresses. Second, moving tokens between two addresses shifts the statistics without any sale. If 750 million DOGE drop out of three classes at the same time and do not turn up in another large class, that still points to genuine selling into the market. CoinJournal backs this up with a market overview from CryptoQuant that shows the sell side dominating in both spot and futures.

Anyone weighing the figure needs the other side of the ledger. Small holders with fewer than 100,000 DOGE do not appear in the calculation, and neither do the largest addresses with more than 100 million DOGE. Part of the volume sold may therefore have ended up with them. All that is established is that the middle layer is selling.

OKX futures: $85.7 million in open interest with funding near zero

The futures market shows no wave of new bets on falling prices, but no pushback from buyers either. On OKX, open positions in the perpetual DOGE contract were worth around $85.7 million on Wednesday lunchtime, equivalent to just under 1.26 billion DOGE.

The funding rate is the fee that buyers and sellers of perpetual contracts pay each other every eight hours to keep the contract price close to the spot price. When it is positive, buyers pay. For the current period OKX shows a mere 0.0009 percent, and the last settled period came in at 0.0041 percent. Both are close to zero. Buyers are barely paying a premium to hold their positions any more, and there is no sign of overheating to the downside, in which sellers would have to pay.

For leveraged traders, this means the market is not loaded on one side, so a sudden sell-off driven by forced liquidations is less likely than in an overheated phase. A liquidation price just below the annual low is still dangerous, because $0.0666 is the level where many stops are likely to sit.

From the $0.0666 low back to $0.068: the Dogecoin price since Tuesday

On Tuesday, our article on the lowest Dogecoin price since November 2023 described the break of the zone between $0.0679 and $0.0690. In the evening DOGE cost around $0.0675. Since then the price has recovered by almost one percent and, at $0.0681, sits at the lower edge of exactly that zone. It has not been reclaimed; it is being tested from below.

According to CoinGecko, the range of the past 24 hours runs from $0.0666 to $0.0697. The daily high therefore stayed below $0.07, and the daily close above $0.0714 that we named on Tuesday as the condition for a reversal is further away than a normal daily swing. What is new is the Santiment data. These figures show that the weakness came not only from the futures market but from deliberate selling on the blockchain.

Moving averages at $0.079 to $0.088: how far DOGE sits below the trend

A moving average smooths the price over a fixed number of days and so shows the direction of the trend. CoinJournal puts the exponential 50-day average for DOGE at around $0.079, the 100-day average at $0.081 and the 200-day average at $0.088. The price is below all three, and the gap to the 200-day average is almost 30 percent.

That defines the levels for the coming days. On the downside, CoinJournal sees support at $0.065, a good four percent below the current price. On the upside, the first hurdle is a horizontal resistance zone at $0.077, roughly where Dogecoin stood on November 3 when the large wallets began selling. Anyone who bought there and has been sitting on a loss of about ten percent since may sell at break-even if the price returns. The relative strength index, which measures how sharp the latest price moves were, is in the low 30s according to the report, close to the zone analysts call oversold.

Our assessment: the evidence currently argues against a quick trend reversal. 750 million DOGE sold, a funding rate without buying pressure and a price below all three moving averages all point the same way. On the other side stand the relative strength index near oversold territory, which in earlier downturns often heralded a countermove, and the fact that short sellers are not crowding into the futures market. We therefore consider a recovery to $0.077 possible, but not a lasting change of trend without the return of the large buyers.

21Shares drops House of Doge: US ETF TDOG loses its service provider

Sentiment is also weighed down by news from the US that we reported on November 6. The issuer 21Shares terminated its agreement with House of Doge on November 5, with immediate effect. The contract covered research, data, operational support and marketing for the 21Shares Dogecoin ETF. That is what the mandatory filing with the US Securities and Exchange Commission says; the fund trades on Nasdaq under the ticker TDOG. The filing gives no reason, only that the termination was made under the terms of the agreement.

House of Doge is the corporate arm of the Dogecoin Foundation. For the fund itself, nothing changes in the underlying asset, and the coins remain with the custodian. The signal is still weak: the partner from the Dogecoin community that was supposed to promote the fund is no longer on board. For retail investors in Europe, TDOG is hardly accessible anyway, because US ETFs generally do not come with a key information document under the EU regulation on packaged investment products and are therefore blocked for private clients at European brokers.

Dogecoin ETP on Xetra: 2.5 percent a year versus buying directly

Anyone who wants to invest in Dogecoin through a securities account has had an alternative on the Frankfurt Stock Exchange since the end of April 2026. The 21Shares Dogecoin ETP, ISIN CH1431521033 and WKN A4A5WJ, trades on Xetra in euros and, according to the issuer, is physically backed by DOGE. Annual costs are 2.50 percent. On an investment of 1,000 euros, that is 25 euros a year deducted from the value of the product, whether the price rises or falls.

Legally, an ETP is a debt security of the issuer, not a fund with segregated assets. The deposited coins serve as collateral, but the issuer's default risk remains. When you buy directly on a crypto exchange there is no ongoing annual fee; instead you pay trading fees and the spread between the buying and selling price. Whether you leave the coins on the exchange or move them to your own wallet is up to you.

An overview of other exchange-traded crypto products and their costs can be found in our guide to buying crypto ETFs in Germany.

How gains on DOGE are taxed depends on where you are resident; tools that help with the calculation are compared in our overview of crypto tax software.

Buying under MiCA: a limit order at the $0.065 support

Since the end of the transition period of the European crypto regulation MiCA, crypto exchanges that serve customers in the EU need a licence in the EU. Which providers already have one is shown in our comparison of regulated crypto exchanges. Before making a deposit, check the imprint or the terms of use to see which company is your contractual partner and which authority licensed it.

On a day like this, when large addresses are selling and the price moves in a narrow range, a limit order helps. With it, you set the maximum price you are willing to pay instead of buying at whatever price happens to be available. If you want to wait for the support at $0.065, you set the limit just above it and accept that the order will not be filled if the price recovers. Which exchanges offer limit orders at no extra charge and how high their trading fees are can be compared in our ranking of the best crypto exchanges.

With leverage, the opposite caution applies. The liquidation price is the price at which the exchange forcibly closes a leveraged position because the posted collateral is used up. If it sits just below the annual low of $0.0666, a brief dip is enough. At ten times leverage, a drop of around ten percent is enough to lose the collateral entirely.

Dogecoin at $0.068: the trend only turns above $0.077

The selling by large wallets is the new factor this week. Until it eases, the $0.065 level remains the next test, and only a rise above the resistance zone at $0.077 would end the downtrend that began in early November.

1. Choose how to buy: Decide whether you want to hold DOGE directly on an exchange or as an ETP in a securities account. Providers with an EU licence are listed among the regulated crypto exchanges.
2. Compare costs: Set the ETP's annual costs of 2.50 percent against the exchange's trading fees. The terms are shown in the comparison of the best crypto exchanges.
3. Check your securities account: To buy the Xetra ETP you need a broker with access to Xetra and low order fees. A selection is provided by our comparison of the best crypto brokers.

(As of November 11, 2026. This article is not investment advice. Prices and fee structures change; check the terms with the provider before you buy.)