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VX: KP92877 QQ: 3908306664 There is no charge to enter the community, no exchanges, no recommended links Dogecoin [DOGE] has been falling from $0.30 a month ago and has been squeezed by bears. This meme coin has fallen by 13.2% on the monthly basis, and is now at $0.1969. It has fallen by 0.88% today. However, despite its weakness, some large investors seem to be quietly taking delivery.  The Dogecoin whale that has been dormant for 11 months is back According to news, a DOGE whale who had been sleeping for 11 months appeared and withdrew 15.115 million Dogecoins worth US$2.95 million from Binance.  The whale also sold 7,473 DOGE at a price of $1,450, and now this address still has 15.19 million DOGE, worth about $12.96 million. Once dormant whales become active again, it usually means that "smart money" is confident about a mid- to long-term rebound. This also shows that large players find value in the current price range and expect the market to slowly turn bullish in the future. Retail investors continue to sell Don't think that everyone is grabbing chips. In fact, retail investors are doing exactly the opposite. Historical data shows that retail participation tends to decline when whales start acting. Data shows that the CVD of spot traders has been in the negative range throughout October, which shows that retail investors have been selling and the spot market is under considerable selling pressure.  Additionally, the bid-ask spread has been negative for most of the past 30 days. As of press time, the selling volume of DOGE is 156.67 million, the buying volume is only 154.88 million, and the net outflow is 1.79 million. This ongoing imbalance shows that although whales continue to increase their positions, the market's bearish sentiment has not subsided.  DOGE faces critical resistance at $0.20 Bulls and bears are still fighting, and Dogecoin is basically standing still. Although the price on the chain is slowly rising, the short-term key resistance level has been difficult to break through. DOGE price is currently below the 20, 50, 100 and 200 EMA, indicating a bearish bias in the market. The Directional Movement Index (DMI) also confirms this. The positive index is only 12, and the negative index is close to 39. The bears have the upper hand.  To reverse the situation, buyers would first need to push the price above the 20-day moving average ($0.20) before regaining the 50-100-day moving average range, around $0.21. Only by achieving this step can the price reach $0.22 in the medium term. On the other hand, if sellers continue to control the market, DOGE may trade sideways in the range of $0.17 to $0.20, and the overall trend will be unclear. That’s it for today’s article. We are currently in a bull market and the situation is turbulent. We share passwords every day. If you don’t know what to do in the bull market, you are welcome to scan the code to join the group for free. The spot code and layout strategy of the bull market can be shared for free. Let us embrace the bull market, improve our winning rate, and say goodbye to high positions. Scan the QR code below to join us VX：KP92877  If you can’t add it via WeChat above, you can contact the author on the homepage! Prevent loss of contact QQ: 3908306664  |
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