Dogecoin (DOGE) Price: Whales Are Dumping and Traders Are Shorting — What’s Next?

TLDR DOGE dropped 2.48% to $0.082 on August 31, with sell-side pressure outpacing buying for three straight days Whales holding between 1M–100M DOGE shed 260 million tokens since August 21 Open interest fell from $1.58 billion to $1.27 billion as futures traders close long positions DOGE ETFs recorded $800,000 in inflows since August 17, with net assets reaching $12.33 million Key support sits at $0.082; a break below could push DOGE toward the August low of $0.069 Dogecoin is trading at $0.082 after falling more than 12% over the past week. Selling pressure has dominated for three consecutive days since August 28, with DOGE sold exceeding DOGE purchased by $21 million during that stretch. Dogecoin (DOGE) Price Whale wallets are a key part of the story. Santiment data shows that holders with between 1 million and 100 million DOGE shed roughly 260 million tokens since August 21. Smaller whale wallets in the 100,000–1 million range absorbed about 10 million DOGE in the same period — a pattern that often signals distribution rather than accumulation. Derivatives Markets Signal Caution Futures open interest dropped from $1.58 billion to $1.27 billion, pointing to long positions being closed. Long liquidations hit $5.96 million on August 31, well above the $833,000 in short liquidations recorded the same day. The long/short ratio read 0.87 on August 31, meaning more traders are positioned short than long. Futures trading volume jumped 99% to $1.34 billion, showing high activity as traders react to the price move. $Doge/monthly — Inverted Chart#Dogecoin just formed a Hanging Man candle at resistance — a textbook bearish reversal pattern. 📊 Hanging Man at resistance🔴 Bearish reversal signal🎯 Target: $0.7 ✍️ This is the third time the Inverted Chart has flashed this exact setup —… pic.twitter.com/IuHTucR0Ck — Trader Tardigrade 🧬 (@TATrader_Alan) August 31, 2026 Analyst Trader Tardigrade flagged a bearish signal on the monthly inverted chart, noting that Dogecoin formed a Hanging Man candle at resistance. He pointed out this is the third time this pattern has appeared in the same setup, with the previous two instances both triggering drops. His price target is $0.07. ETF Inflows Offer Some Support Despite the bearish technical setup, institutional interest has picked up. DOGE ETFs recorded two straight weeks of inflows totaling $800,000 since August 17. That follows a tough July when ETF outflows reached $525,000. Source: SoSoValue Total net assets in DOGE ETF products now stand at $12.33 million, equal to 0.09% of Dogecoin’s $12.87 billion market cap. DOGE funding rates turned positive, reading 0.0010% on Monday, a mild bullish signal from the derivatives market. On the chart, DOGE is moving within a descending triangle. Support sits at $0.082. Resistance levels are at $0.088, the 200-day EMA at $0.093, and then $0.102. The RSI is at 36 on the four-hour chart, and the MACD has slipped slightly negative. DOGE is holding above the 100-day EMA at $0.081 and the 50-day EMA at $0.078 but remains below the 200-day EMA at $0.093. A close below $0.082 support could open a move toward $0.069, the August low. The post Dogecoin (DOGE) Price: Whales Are Dumping and Traders Are Shorting — What’s Next? appeared first on CoinCentral.