Bitcoin News Alert: Dogecoin Plunges 9% as Institutional Selling and Bitcoin Weakness Trigger Market Panic
Dogecoin (DOGE) faced a brutal 9% drop on July 29, 2025, as Bitcoin weakness and institutional selling triggered a market-wide selloff. The plunge below $0.2220 left traders scrambling—what’s next for DOGE and the crypto market?
Why Did Dogecoin Plunge 9%?
The July 29 selloff wasn’t an isolated event. Key factors driving the decline include:
- Bitcoin Weakness: BTC’s sluggish performance amplified liquidity outflows across altcoins.
- Institutional Selling: Heavy outflows on July 16 and July 29 signaled profit-taking.
- Market Sentiment: Risk-off mood due to macroeconomic uncertainty.
Institutional Selling: A Major Catalyst
Large investors played a pivotal role in DOGE’s decline. Data shows:
| Date | DOGE Price Drop | Key Support Level |
|---|---|---|
| July 16 | 9% | $0.223–$0.225 |
| July 29 | 9% | Broken at $0.2220 |
Bitcoin Weakness and Its Ripple Effect
BTC’s struggles dragged down DOGE and other altcoins. Analysts note:
- BTC’s suboptimal performance reduced liquidity.
- SUI and other altcoins also saw double-digit losses.
- U.S. Treasury yields and dollar index influenced risk appetite.
Can Dogecoin Recover?
Despite the plunge, some signs suggest hope:
- Whales accumulated 1.4 billion DOGE.
- Historical rebounds tied to Bitcoin cycles.
- Elon Musk’s influence remains a wildcard.
FAQs
Q: Why did Dogecoin drop 9% on July 29?
A: Institutional selling, Bitcoin weakness, and macroeconomic concerns triggered the selloff.
Q: Is Dogecoin’s drop linked to Bitcoin?
A: Yes, BTC’s performance heavily influences DOGE and other altcoins.
Q: What’s the key support level for DOGE?
A: $0.223–$0.225 is a critical zone; breaking lower could signal deeper corrections.
Q: Are whales buying DOGE after the drop?
A: On-chain data shows whale accumulation of 1.4 billion DOGE, hinting at potential recovery.
