Dogecoin continues to grow confidently, gaining about 17% over the past two weeks. The meme token’s price is holding within an ascending channel and is trading near $0.2605. However, beneath the market surface, signs of cooling are emerging—capital inflows are decreasing and large holders are reducing their positions. This could mark the beginning of a short-term correction if demand does not recover.
Trend strength in question
Over the past two weeks, Dogecoin has outperformed most memecoins, maintaining optimism in the market. Traders have been actively opening long positions, expecting the upward movement to continue, but indicators point to a weakening momentum.
The key Chaikin Money Flow (CMF) indicator, which tracks capital inflows and outflows, has moved into negative territory and is at –0.08. This value indicates that buying volumes are decreasing despite the price increase. This situation is a classic example of bearish divergence, when the price sets new local highs but there is not enough liquidity volume behind the growth.
Usually, such signals precede a period of consolidation or decline, especially if the market has already shown signs of being overbought.
Large players step into the shadows
Additional confirmation of weakening demand came from on-chain data. According to analytics platform Nansen, large DOGE holders (so-called whales) have reduced their positions by about 1% over the past two weeks. They now control 4.43 million DOGE, equivalent to several million dollars.
This is a worrying signal for Dogecoin. Whales play a crucial role in maintaining trends, especially during periods of sharp growth. When large players take profits or reduce their activity, it usually means the impulsive growth phase is coming to an end.
Lawyers and market analysts note that in recent months the structure of DOGE participants has changed: retail trader activity is growing, but the volume of transactions from large addresses is falling. This makes the trend less sustainable.
Technical picture: key levels
<img loading="lazy" decoding="async" class="aligncenter size-full wp-image-143564" title="photo_2025-10-07_20-55-41" src="https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-07_20-55-41.jpg" alt="On the daily chart, DOGE is moving in an upward parallel channel. The lower boundary of the pattern is around $0.2574, where the nearest support is forming." width="1280" height="630" srcset="https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-07_20-55-41.jpg 1280w, https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-07_20-55-41-360×177.jpg 360w, https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-07_20-55-41-400×197.jpg 400w, https://coinspot.io/wp-content/uploads/2025/10/photo_2025-10-07_20-55-41-768×378.jpg 768w" sizes="(max-width: 1280px) 100vw, 1280px" / alt="On the daily chart, DOGE is moving in an upward parallel channel. The lower boundary of the pattern is around 
.2574, where the nearest support is forming.” title=”photo_2025-10-07_20-55-41″>
On the daily chart, DOGE is moving in an upward parallel channel. The lower boundary of the pattern is around $0.2574, where the nearest support is forming. Losing this level could lead to accelerated selling and a drop in price to $0.2018—the next strong demand zone.
On the other hand, if buying activity resumes, the coin may test resistance at $0.2797. A confident consolidation above this mark will open the way to the next target—$0.2980, which would mean another 15% growth from current levels.
The Relative Strength Index (RSI) also remains in the neutral zone, indicating the possibility of movement in either direction. If the RSI rises above 60 as volumes increase, it will signal renewed buyer interest.
Factors influencing DOGE dynamics
Dogecoin’s growth is supported by several factors at once: overall positivity in the crypto market, rising Bitcoin prices, and increased interest in memecoins on social media. However, the lack of new catalysts and declining interest from large investors may slow the rally.
Experts note that unlike at the beginning of the year, when DOGE moved in sync with Bitcoin, its dynamics are now becoming more autonomous and subject to speculative fluctuations. This makes the token sensitive to short-term changes in liquidity.
What’s next?
Dogecoin still maintains an upward structure, but the market is entering a phase of uncertainty.
If trading volumes and capital inflows do not recover, the likelihood of a correction in the coming weeks is high. At the same time, an influx of new participants and renewed interest in altcoins may bring back a bullish impulse.
In the short term, key zones remain $0.2574 (support) and $0.2797–$0.2980 (resistance zones). A retest of the upper boundary of the channel will signal continued growth, while a drop below the lower one will mark the start of a cooling phase.
For traders, it is now important to monitor the dynamics of the CMF and whale activity: if these indicators continue to decline, the risk of a correction will increase.
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