Dogecoin (DOGE) is up by less than 1% on Thursday, climbing towards $0.085 despite a generally risk-off environment across cryptocurrency markets. The recovery comes as large holders, commonly known as whales, appear to have paused recent profit-taking activity, temporarily easing selling pressure. However, retail investors remain cautious, with futures market participation continuing to decline. The momentum indicators remain bearish, suggesting that buyers are yet to fully regain control of the market. Whale activity offers temporary relief On-chain data from Santiment suggests that major DOGE holders have slowed their recent distribution activity. Wallets holding more than 1 billion DOGE, often associated with exchanges, now control 47.14% of the total supply, up from 45.73% recorded on April 25.
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