Dogecoin Dives Below $0.070 as Whale Holdings Rise

Dogecoin has dropped below $0.070, reversing earlier gains and extending its broader bearish trend.

The coin now trades roughly 12% under its July high of $0.079, despite signs of stabilization and increasing whale activity supporting hopes of a recovery.

According to blockchain analytics firm Santiment, large Dogecoin holders - known as whales - have been steadily increasing their holdings during the recent downturn.

Wallets containing between 10 million and 100 million DOGE controlled 12.18% of the total circulating supply as of Wednesday, up from 11.86% just four days earlier.