*NEW* DOGE Whale Transactions Drop 70% While ChowWow Presale is Surging

DOGE Whale Transactions Drop 70% While ChowWow Presale is Surging

Like other meme coins, Dogecoin has witnessed a massive selloff in the past week, leading to the meme coin price struggling to maintain recent price levels.

As of the time of writing, Dogecoin’s price is hovering around $0.25, having dropped by 3% in the past 7 days. With technical indicators pointing towards a further downtrend, investors are looking elsewhere to recover from their losses. 

Among the meme coins witnessing high accumulation is ChowWow (CHOW), a Solana-based meme coin backed by two features—play to earn and stake to earn. Given the rising interest in the meme coin, the CHOW token might be the next 100x Solana coin, with high expectations of 10x rallies in the short term.

Dogecoin Whale Transaction Drops by 70% As DOGE Battles With Bear Trend

A few days ago, on-chain crypto market tracker Santiment in a tweet on X observed that Dogecoin whale transactions have dried up, with less than a third of the amount of $100K+ transfers happening weekly now compared to the early November crypto market rally. 

This decline is also noticeable in the Dogecoin price which has dropped from $0.48 in December to $0.25, which is over 47% drop from the December peak. The recent decline means that Dogecoin price has dropped below the key 50% Fibonacci retracement level of $0.27 which was drawn from its August 14 low of $0.05 to its December 8 high of $0.48. 

Technical indicators are also pointing towards a further downtrend, as the RSI in the 1D timeframe is 34 (neutral), indicating that sellers are in control. If the current Dogecoin crypto price trend continues, the meme coin price might dip further to $0.18. 

The Moving Averages are flashing a sell signal, while the MACD has confirmed a bearish crossover, indicating that momentum is shifting downwards, which confirms that bears are in control. 

In a tweet on X, popular market analyst Ali Martinez claims that as long as DOGE’s price holds strong above the upper boundary channel around $0.13, the meme coin has the potential to rally towards $4. Dogecoin’s current support level is $0.27. A break above the level could ease selling pressure, while a drop below $0.18 could lead to further decline. It is one of the top meme coins to watch in Q1.

ChowWow Presale Booms While Smart Whales Continue Accumulation

The ChowWow (CHOW) ongoing presale is witnessing massive adoption thanks to its strong case in the meme coin space. Unlike other meme coins that have no real-world utility, ChowWow, the Solana-based meme coin is backed by a play 2 earn model which allows users to play games and earn rewards which can be converted into real-world assets. 

The staking model also allows users to earn up to 8 – 15% in APY for staking their tokens and providing liquidity to the ChowWow ecosystem. Apart from that, 5% of the total supply has also been allocated for community activities and airdrops on launch. In essence, ChowWow’s goal is to ensure that everyone earns in the ecosystem.

Inspired by the Chinese Chow Chow Dog breed, which is believed to bring luck and wealth to people, ChowWow aims to bring wealth, luck, and prosperity to investors’ digital assets while ensuring a seamless gaming experience on the platform. Built on Solana, ChowWow will have faster transaction speeds and cheaper fees compared to Ethereum meme coins. 

The CHOW token, which is sold for $0.008, powers the ecosystem. The token is deflationary, with buy-and-burn mechanisms put in place to decrease the supply and boost the price. As a means of payment for in-game items in the P2E platform, the CHOW price will likely witness massive buying pressure soon. For investors looking for meme coins that can do 10x in the short term, CHOW is a project not to miss. It is one of the best meme coins to invest in 2025. 

Dogecoin vs ChowWow – the Best Meme Coin To Invest In

Dogecoin is facing severe bearish pressure which might push the memecoin price below the $0.18 support level. With the declining market volume and whale activity, the possibility of a resurgence is slim. However, ChowWow, which just kicked off the presale a few days ago, is already courting attention in the market. Given the strong use case, the CHOW price might do 10x in Q1, making it one of the top meme coins to watch out for in 2025.