Dogecoin (DOGE) Price Analysis: Major Holders Accumulate 240M Tokens Amid Market Decline

Key Highlights

Table of Contents

Dogecoin declined 4% to $0.079, slipping beneath the 50-day exponential moving average at $0.081
Large holders accumulated 240 million DOGE tokens from September 9-14, expanding their total to approximately 19 billion DOGE
DOGE ETF products recorded $248,510 in net inflows on September 16, entirely from Grayscale’s GDOG fund
Technical analyst Ali Martinez identified potential upside levels at $0.1552 and $0.1774, contingent on maintaining $0.0813 support
Cryptocurrency ETF products experienced approximately $600 million in withdrawals on September 16 following the CLARITY Act’s Senate defeat

Dogecoin (DOGE) has retreated today, registering a roughly 4% decrease to $0.079 amid widespread selling throughout cryptocurrency markets. Bitcoin and Ethereum similarly moved lower, dropping 0.8% and 1.6% respectively.

The downturn follows the US Senate’s rejection of the CLARITY Act, proposed legislation designed to establish regulatory guidelines for digital assets. This development sparked approximately $600 million in net withdrawals from US-based cryptocurrency ETF products on September 16 — marking the largest single-day outflow recorded since June 2026.

However, beneath the surface of declining prices, substantial DOGE holders have been aggressively accumulating. Wallet addresses containing a minimum of 100 million DOGE added 240 million tokens during the period spanning September 9 through September 14, based on information from Santiment. These major holders now control approximately 19 billion DOGE, representing roughly 12.18% of circulating supply.

Digital asset analyst Ali Martinez highlighted this accumulation pattern and established price objectives for Dogecoin utilizing blockchain data. Leveraging the UTXO Realized Price Distribution (URPD) indicator from Glassnode, Martinez pinpointed a substantial support area at $0.0813, where 35 billion DOGE tokens historically exchanged ownership.

5/6 This accumulation has reinforced a major on-chain support floor near $0.0813, where almost 35 billion $DOGE were previously traded.
As long as this level holds, the bullish setup remains intact, with $0.1552 and $0.1774 as the next upside targets. pic.twitter.com/bALVCjRRK7
— Ali Charts (@alicharts) September 3, 2026

Technical Price Projections

Martinez explained: “As long as this level holds, the bullish setup remains intact, with $0.1552 and $0.1774 as the next upside targets.”

The substantial buying activity from whales hasn’t prevented the recent price deterioration. Information from CoinGlass indicates $39 million more in spot withdrawals compared to deposits during September 9-14, demonstrating that broader market selling exceeded the accumulation by large holders.

Meanwhile, Trader Tardigrade (@TATrader_Alan) examined Dogecoin’s long-term price patterns using monthly timeframe charts. He observed that DOGE has established a “floor level” on three previous occasions — during 2015, 2019, and 2022 — with each instance preceding substantial price rallies. He characterized the present situation as forming a third floor, emphasizing this represents historical pattern recognition rather than mere speculation.

$DOGE/monthly — When DOGE Leaves the Floor 🐕❇️
❇️ Every single time #Dogecoin has consolidated at a floor level, it has launched into a parabolic bull run.
📊 Three historical floor patterns
🚀 Each floor = massive breakout
🔥 2015 floor → Explosive move
🔥 2019 floor →… pic.twitter.com/BmCRUaw85K
— Trader Tardigrade 🧬 (@TATrader_Alan) September 16, 2026

Investment Product Flows and Chart Analysis

Regarding exchange-traded products, Dogecoin registered $248,510 in net inflows on September 16, exclusively through the Grayscale Dogecoin Trust (GDOG). The Bitwise DOGE ETF, scheduled to terminate operations in October, along with the 21Shares TDOG ETF generated zero inflows.

DOGE represented one of just four digital assets recording positive ETF flows that day, joining Solana, Tron, and Hedera.

From a technical perspective, DOGE has breached below both its 50-day exponential moving average and the bottom boundary of a descending triangle formation. Should the token close beneath this threshold for three straight days, a further decline toward $0.069 becomes plausible.

The Relative Strength Index presently registers at 42, trending downward. Reclaiming $0.086 would be necessary to reverse the near-term bearish momentum, with the 200-day exponential moving average positioned at $0.093 serving as the subsequent resistance level.

Despite recent weakness, DOGE maintains a 14.53% gain over the trailing 30-day period.