Dogecoin Tumbles Below $0.0850 Amid Sector Rotation and Whale Selling

Dogecoin (DOGE) has extended its decline to a fourth consecutive session, trading below $0.0850 on Thursday. The meme coin's momentum has been reduced by sector rotation towards tokens with clearer utility narratives.

The broader interest in cryptocurrencies has shifted towards real-world asset tokenization, privacy-focused solutions, and artificial intelligence-related applications. This shift has resulted in reduced trader participation, with DOGE's Open Interest falling 7% to $1.10 billion over the last 24 hours.

Ali Charts reported that whale wallets distributed 420 million DOGE tokens over the previous seven days, adding selling pressure. The funding rate remains positive at 0.0056%, indicating part of the market still expects upside.