Dogecoin whales shed supply as geopolitical risks cap rally
Dogecoin (DOGE)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Dogecoin (DOGE) is trading near $0.081 after a 12% weekly decline, with on-chain data showing whale profit-taking. Santiment data indicates that large wallets holding between 1 million and 100 million tokens have reduced their exposure by 260 million tokens since August 21. Conversely, mid-sized whales holding 100,000 to 1 million tokens accumulated 10 million DOGE during the same period.
Derivatives data shows mild bullish strength, with CoinGlass reporting a long-to-short ratio of 1.07 and positive funding rates. Institutional demand appears to be improving, as SoSoValue data shows DOGE ETFs recorded an inflow of $146,020 last week. However, risk sentiment is being weighed down by Middle East tensions following US strikes on Iranian launchers.
These geopolitical developments have prompted traders to price in a risk premium, favoring the US Dollar. Technically, DOGE holds above the 100-day EMA at $0.081 but remains capped beneath the 200-day EMA at $0.093. The RSI sits around 53, suggesting momentum has cooled from previous overbought levels. Immediate resistance is identified at $0.088, with stronger supply expected near the 200-day EMA.
How the market reacted
Whalio's own Binance spot order flow for DOGE, measured when this story was written up on 31 August 2026. Not the outlet's figures.
Whalio’s Binance spot data for DOGE shows a buy ratio of 53.7% over the last hour and 53.2% over four hours, indicating sustained buying pressure in the short term. This contrasts with the 24-hour buy ratio of 45.9%, suggesting that recent trading activity has become more bullish compared to the daily average. The volume delta reflects this shift, showing positive inflows of $117,887 in the last hour and $438,563 over four hours. However, the 24-hour volume delta remains negative at -$4,116,948, indicating that net selling pressure has dominated the full day. The Cumulative Volume Delta (CVD) for the 24-hour close is -$2,806,785, confirming that sellers have been in control over the longer timeframe. Despite the daily net outflow, the recent hourly and four-hour metrics suggest a potential stabilization or reversal of selling pressure.
The latest daily buy ratio of 37.6% sits at the 0th percentile of the last 322 days, against a median of 48.9% - among the weakest buying days it has had.
Twenty-four hours later
What DOGE did over the 23 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for DOGE, averaged over the days leading up to the story.
Over the preceding week, DOGE experienced a price change of -12.2%, with a total volume delta of -$2,433,525. The 7-day average buy ratio was 50.1%, while the latest day’s ratio was 4.2 percentage points lower, indicating a recent weakening in buying interest relative to the weekly norm. Trading volume was also subdued, recording 0.74x the average daily volume. Net buying occurred on only 5 of the 7 days, highlighting a generally cautious market environment. Compared to the 24-hour period, the weekly data shows a more consistent trend of net outflows and lower relative volume, suggesting that the recent hourly buying surge is a short-term deviation from the broader weekly downtrend.