Dogecoin (DOGE) Price Prediction: Will the Meme Coin Make a Recovery or Whales Will Continue to Dump?

Dogecoin's (DOGE) price is bound to note a recovery; the question remains whether it can manage to chart gains as well.

Dogecoin’s (DOGE) price recently attempted to reclaim the descending wedge pattern after a breakout was invalidated. However, large wallet holders have been selling their holdings, which could hinder DOGE's recovery.

Despite the attempted recovery, Dogecoin’s price could face resistance due to selling activity from large wallet holders. These addresses, holding between 10 million and 100 million DOGE, have collectively sold around 400 million DOGE since March 23.

With the current DOGE price, this悚ount of tokens is valued at approximately $44.8 million, indicating that the meme coin has already incurred this loss.

Moreover, since DOGE is not rallying at the moment, it is evident that this selling activity was intended to offset losses, suggesting that DOGE’s price may struggle to recover fully.

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