A recent sell-off by large investors in the Dogecoin market has caused a significant price decline for the meme coin. The whales – those who hold at least one million DOGE tokens – dumped over $190 million worth of the cryptocurrency in the past two days, contributing to a drop of up to 16% from last week’s level. This action could potentially trigger panic selling among smaller investors, further exacerbating the price slide. While a new Dogecoin exchange-traded product has been launched, it hasn’t yet shown significant upward movement. The article details the implications of these large-scale transactions and their potential impact on the future of the meme coin.