Dogecoin Hits “Once-in-a-Decade” Signal as Whales Sell 7 Billion DOGE

Dogecoin just activated a “Once-in-a-Decade” signal that has preceded major rallies. It happened at the exact moment whale wallets offloaded 7 billion DOGE. Massive whale capitulation and this chart pattern are fueling excitement across the crypto market.

As it happens, Dogecoin is tapping a trendline that has produced every major multi-hundred-percent rally in its past, with each retest a one-off opportunity, as every time DOGE erupted shortly after, according to a new monthly chart shared by crypto analyst Trader Tardigrade on November 24.

Indeed, DOGE has touched the monthly trendline highlighted in the chart only a handful of times in the last decade. Each touch aligned with a period when Dogecoin was widely written off, trading sideways or bleeding lower while sentiment collapsed. Yet every interaction with this line resulted in an immense breakout.

At the same time, a second dataset from fellow crypto trading expert Ali Martinez reveals that whales have sold or redistributed 7 billion DOGE in just 30 days, a level of capitulation typically seen only near cycle bottoms. 

Specifically, the whale distribution chart shows a clear drop in the holdings of addresses containing 10M-100M DOGE. Historically, large sellers exiting before a reversal is a pattern that traders have witnessed across multiple crypto cycles.

Why Analysts Say Dogecoin Just Hit a Once-in-a-Decade Setup

For the time being, DOGE is changing hands at $0.1448, up 1.01% in the last 24 hours, dropping 10.72% across the previous seven days, and accumulating a loss of 26.67% on its monthly chart, according to the most recent pricing information.

Together, the signals paint a picture that is uncomfortably bearish in the short term, but historically explosive in the long term, resembling the conditions that preceded Dogecoin’s biggest upward moves in 2017, 2020, and early 2021.

However, there’s a catch. These setups never guarantee timing. DOGE can grind lower before rallying, and past results don’t ensure future gains. But the alignment of a long-term opportunity plus major whale capitulation is extremely rare.

On top of that, positive momentum may arrive against the backdrop of the NYSE approving Grayscale’s Dogecoin spot exchange-traded fund (ETF), clearing launch for today, as Bloomberg senior ETF analyst Eric Balchunas reported on November 23, stating:

With sentiment near rock bottom and Dogecoin hovering at multi-month lows, analysts say this could be either the moment everyone regrets missing or another head fake in a declining market. Either way, the setup is one of the most interesting Dogecoin has printed in years.

More Must-Reads:

• Dogecoin Shows Rare Bullish Signal Seen Before Every Big Reversal
• Bitcoin Indicator Flashes Warning: A 60% Crash Again?
• Crypto Crash Now Worse Than 2020, New Charts Reveal