Japanese firm Remixpoint has offloaded its entire altcoin book on September 1, booking a $21,000 loss on its Dogecoin position. This rotation toward a Bitcoin-only treasury, combined with a collapse in on-chain adoption and a more hawkish-than-expected Federal Reserve, underscores the mounting fragility of the leading memecoin.
🔑 Key Takeaways
- Remixpoint sold 2.8 million DOGE for roughly $234,000, the only losing position in its altcoin book
- The firm booked a combined net gain of $742,000 on the ETH/SOL/XRP/DOGE sale
- Remixpoint now retains 1,506 BTC, valued at over $115 million
- Daily new DOGE addresses collapsed 87% in just ten days
- Dogecoin slipped below $0.07, pressured by a descending triangle and a hawkish Fed
Remixpoint dumps its altcoins: a hard loss on DOGE
Japan-listed Remixpoint disclosed it sold its full slate of altcoins on September 1, except for its bitcoin treasury. Among the four assets divested, Dogecoin was the only one to generate a loss, estimated at around $21,000.
The company offloaded 2.8 million DOGE tokens for roughly $234,000, an amount below the opening value of the position at the start of the fiscal year. In parallel, the other sales delivered $379,000 on Ether, $311,000 on Solana, and $72,000 on XRP. The combined transaction produced a cumulative net gain of approximately $742,000.
Remixpoint justified the rotation by citing a reassessment of risk-reward profiles under current market conditions. The company now retains about 1,506 bitcoins, worth more than $115 million at current prices, making bitcoin its sole remaining crypto exposure.
The loss is all the more notable because Dogecoin is not a marginal asset in Japan: the token has been traded on registered platforms since 2022, and the Japan Virtual and Crypto Assets Exchange Association (JVCEA), the industry’s self-regulatory body, began publishing an official DOGE/JPY reference price this year, alongside bitcoin, ether, XRP and solana.
On-chain adoption crumbles, whales step aside
Beyond Remixpoint’s isolated decision, the entire Dogecoin network is showing clear signs of fatigue. The number of new addresses created daily collapsed by 87% in just ten days, sliding from about 74,150 on March 13 — the highest level since the 75,000 peak on February 25 — to roughly 9,650 on March 21 and 22, the lowest reading across the entire February-March window.
BitInfoCharts’ on-chain wealth index confirms the trend. At the start of the year, 1,052 wallets held at least $1 million in DOGE, including 163 above $10,000. By early February, that millionaire-address count had fallen to about 950 wallets, a 10% drop in one month — primarily driven by valuation erosion rather than mass selling.
Realized losses on the Dogecoin blockchain hit a fresh floor, with a reading near -$868,000 on March 21 and 22, surpassing prior bearish episodes on February 5 and March 7. Recent buyers are closing positions rather than waiting for a rebound. Whales are also reducing exposure: wallets holding between 1 and 100 million DOGE have shed 280 million tokens since the previous Friday. Spot Dogecoin ETFs are not filling the gap either, with inflows of just $146,020 on Monday versus $653,420 the week before.
Technical setup: a descending triangle under pressure
From a charting standpoint, Dogecoin has been trading inside a descending triangle since the January highs above $0.14. The upper trendline has slipped from $0.1157 in January to roughly $0.1007 today, while the flat support aligns with the 0.618 Fibonacci level at $0.08807. A projected 23.39% move from that support would yield a bearish target of $0.06864.
| Indicator | Value |
|---|---|
| Spot price | $0.0688815 |
| 24h change | -1.28% |
| 7-day change | -4.84% |
| 90-day change | -37.93% |
| 1-year change | -68.98% |
| SMA-7 | $0.0699992 |
| SMA-30 | $0.0716921 |
| SMA-200 (major resistance) | $0.09315 |
| Market capitalization | $11.78B |
| 24h volume | $0.413B (-21.59% vs SMA-30) |
| Distance vs ATH | -90.64% |
All simple moving averages sit above the current price, forming a layered dynamic resistance. Immediate support lies at $0.0688815, followed by the psychological $0.068 threshold. The Relative Strength Index at 77 flags overbought conditions that favor a prior consolidation. The long-short ratio at 0.93, near its one-month low, confirms that traders are positioning for a pullback. Note that price still holds above the 50-day EMA ($0.076) and 100-day EMA ($0.081), which preserves a superficially bullish short-term structure.
« If price breaks below the $0.075 support, the bearish risk would be around 20%, with the token potentially falling to $0.058 within a few weeks. »
Alejandro Arrieche, Technical Analyst
A hostile macro backdrop for speculative assets
The macro environment offers no tailwind. The leadership change at the U.S. Federal Reserve has not delivered the dovish pivot markets had priced in. New chair Kevin Warsh has struck a notably hawkish tone in recent comments, in sharp contrast to expectations of a further 2026 rate cut. Rate markets now price in a hike as soon as September, with some participants floating a 50-basis-point increase in the federal funds rate.
For speculative assets like Dogecoin, this tightening represents a meaningful headwind. For context, DOGE is down 33% year-to-date, while Solana and Ethereum have shed close to 50% over the same period. Total memecoin market capitalization has shrunk by 22% since January, and Dogecoin’s performance remains comparable to bitcoin’s — which, amid a clear institutional rotation into BTC, undermines the case for a diversified crypto book that includes DOGE.
Conclusion: dominant bearish risk in the near term
The convergence of technical, on-chain, and fundamental signals tilts clearly toward a bearish scenario for Dogecoin near term. As long as the price trades below the SMA-200 at $0.09315 and network adoption remains depressed, the risk of a slide toward $0.058 persists. The base case calls for consolidation between $0.088 and $0.094 while overbought conditions unwind, with a retest of the October 2023 lows on the table if the descending triangle breaks down.
Conversely, a reclaim of $0.094 paired with sustained ETF inflows could open the path toward the $0.10-$0.104 range. For investors, the key takeaway is the ongoing sectoral rotation into bitcoin — confirmed by Remixpoint’s decision — which deprives DOGE of an already scarce institutional bid.
Sources
This article is published for informational and educational purposes only. It does not constitute investment advice. Do your own research (DYOR) before making any decision.
