Dogecoin Prices Plunge Nearly 8% Amid Technical Resistance
Dogecoin (DOGE) prices plummeted by nearly 8% following the sale of 3 million DOGE tokens by SANGRIX on September 7, 2026. The company sold its holdings for approximately $267,665 to fund working capital and AI infrastructure.
The recent decline in DOGE prices is also attributed to technical resistance from moving averages. As per the data, Dogecoin is currently trading below its 20-day ($0.08754) and 200-day ($0.08834) moving averages, while remaining above the 50-day ($0.07750) mark.
The whale wallet holdings of DOGE reached a record high of over 108.5 billion tokens, with open interest in Dogecoin futures totaling 16.38 billion DOGE or around $1.5 billion. However, this bullish indicator is not enough to offset the sustained downside pressure.