Dogecoin Sees $1.6 Billion in Sales This Month, Yet Price Keeps Rising — Here’s Why

Dogecoin (DOGE) finds itself in a rare situation this month — while its price has been steadily climbing, large investors and retail holders alike have been selling heavily. In September alone, over 5.81 billion DOGE, worth more than $1.63 billion, was transferred to exchanges. Despite this wave of profit-taking, the popular meme coin remains in a bullish trend, fueled by speculation of a potential DOGE ETF.

Sales Climb, But Bullish Momentum Holds Dogecoin balances on exchanges have spiked, usually a sign that investors are preparing to sell. The recent rally has provided a perfect opportunity to lock in gains, but so far this selling pressure has not derailed the price trajectory.

DOGE continues to trade with strong bullish momentum, though analysts caution that a surge in profit-taking could undermine the rally in the coming sessions.

Long-Term Holders Signal Caution The Coin Days Destroyed (CDD) metric has, for the first time in over a month, indicated that long-term holders are moving their assets. This often foreshadows sales from “strong hands” and historically serves as a bearish signal.

Until now, long-term holders avoided large-scale selling, providing stability. Their latest activity highlights a potential vulnerability — if these wallets begin to offload, the resulting pressure could challenge Dogecoin’s gains.

Key Levels: $0.273 as Critical Support At the time of writing, Dogecoin is trading at $0.282, up 17% over the past week. The token sits just below resistance at $0.287 while testing support at $0.273.

If DOGE loses this support, the price could slide toward $0.241, marking a reversal of the recent rally and signaling caution to traders.

ETF Could Be the Game-Changer According to Bloomberg analyst Eric Balchunas, if a Dogecoin ETF were approved today, market sentiment could flip dramatically. In that case, DOGE could immediately break above $0.287 and test the $0.300 level, reinforcing the bullish scenario and countering any bearish pressure from ongoing profit-taking.

👉 Dogecoin now stands at a crossroads — massive profit-taking on one side, unshaken optimism over a potential ETF on the other. All eyes are on whether bulls can hold support and drive DOGE toward the symbolic $0.30 mark.

#DOGE , #Dogecoin‬⁩ , #crypto , #etf , #memecoins

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