Dogecoin has plunged 17% after whale wallets offloaded one billion coins over the past week, erasing $5 billion in market value. The sell-off, which began in mid-October, saw wallets holding between 10 million to 100 million DOGE systematically selling their holdings, according to Santiment data. This selling pressure pushed Dogecoin's price below $0.18, causing its market cap to fall from $55.7 billion to $25.1 billion. The massive sell-off also led to over $1.36 billion in crypto derivatives being liquidated in a single day, with Dogecoin being significantly impacted. On-chain data indicates that the sales were part of a planned profit-taking strategy rather than panic selling, as the cryptocurrency broke key technical support levels.