Dogecoin has experienced a 9% slump as Bitcoin's predominant weakness continues to impact the cryptocurrency market, with concerns rising about a potential larger sell-off.
This downturn indicates broader market challenges, showcasing the interconnected nature of cryptocurrency assets and the influence of whale activity and bearish technical indicators.
Dogecoin Plummets 9% Amid Bitcoin Drop
The Dogecoin (DOGE) price fell approximately 9%, coinciding with a broader dip in the crypto market. Bitcoin's weaker performance is a key factor, with its price dropping below important psychological thresholds like $80,000 in late 2025.
The continued sales by large whale investors and declining technical indicators have intensified the downward trend. Key figures, including Elon Musk, have remained silent, though recent community discussions have surfaced on platforms like Twitter.
A related Twitter post from Elon Musk, though not directly commenting on the current slump, highlights his past engagement with Dogecoin.
Whale Selling Exerts Pressure on Dogecoin Prices
The crypto community shows mixed reactions, with some holding on to hopes of a market rebound. On-chain data highlights extensive whale selling, exerting pressure on Dogecoin prices while smaller investors are increasing their holdings.
There's potential for financial fluctuations due to institutional interest in Dogecoin ETFs. Analysts point to historical trends indicating bearish patterns, supported by anxiety among investors as seen in recent social sentiment metrics.
Arthur Hayes, Former BitMEX CEO, stated: "Investors should approach the market with caution due to the interlinked nature of Bitcoin's performance and altcoin volatility." This sentiment was shared during a public interview.
Bitcoin's Influence on Dogecoin Echoes Past Trends
Dogecoin's recent slump parallels past incidents where Bitcoin downturns have adversely affected memecoins. In October 2025, a sharp market drop occurred, echoing present conditions where DOGE's stability depends on Bitcoin's performance.
Experts, including analysts from Kanalcoin, emphasize the risk of further decline if current trends persist. They suggest focusing on institutional investments and market optimizations to gauge potential recoveries, highlighting ETF inflows as a tentative positive factor.