Dogecoin Slips Over 2% On Wednesday Morning, But Analyst Says Memecoin Preparing For Rebound
Posted On May 28, 2025
Dogecoin (CRYPTO: DOGE) was trading lower early on Wednesday, but a rebound could be in the works.
What happened: The world’s most popular meme coin fell over 2% in the last 24 hours, while its trading volume rose 11.45% to $1.3 billion.
Whale activity surged, evidenced by a 41% increase in transactions valued at over $100,000, according to IntoTheBlock. Moreover, the balance held by long-term holders declined 0.88%, signaling that they were actively selling.
After rising to $0.25 last week, the dog-themed meme coin pulled back and has been consolidating in a channel between $0.21 and $0.23.
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