Dogecoin Whales Sell Massive Holdings, Triggering $7M Loss

A significant sell-off by Dogecoin whales shook the cryptocurrency market on May 17, 2025, sending ripples through DOGE prices and impacting investor confidence. The sale of 170 million DOGE tokens resulted in a 9.5% intraday price drop from $0.24 to $0.215, signaling a shift in market sentiment. This whale activity is noteworthy as it has caused $7 million in long positions to be liquidated and trading volume plummeted by over 34%. Analysts suggest that this sell-off likely reflects a lack of confidence in the short-term performance of Dogecoin.