Dogecoin

bullish

Bitcoin

<ul class="wp-block-list">
 <li><strong>DOGE faces key support levels amid rising exchange netflow and sell-offs.</strong></li>
 <li><strong>Trading volume and Open Interest decline, signaling reduced market interest.</strong></li>
</ul>
<p>Dogecoin (DOGE) is witnessing turbulent market conditions, despite a 5.48% price surge to $0.1086 today. This comes after the coin hit a 14-day low of $0.10108 yesterday. Over the past week, DOGE has declined by 12%, with market bears exerting pressure. Notably, trading volume fell by 9%, signaling a potential lack of sustained interest. Despite the downturn, 80% of traders remain bullish, according to market sentiment.</p>
<p>In the last 24 hours, crypto whales purchased over 1 billion DOGE, valued at $108.7 million, per analyst <a href="https://x.com/ali_charts/status/1842089018357375399" target="_blank" rel="noopener noreferrer nofollow">Ali</a>. However, the influx of large transactions and increased exchange netflow, up by 135.2 million DOGE, has driven the price lower. This influx has resulted in substantial sell-offs, with 1.56 thousand large transactions recorded, suggesting continued bearish sentiment.</p>
<p>Bitcoin (<a href="https://thenewscrypto.com/can-bitcoin-btc-break-through-the-65k-barrier-soon/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), meanwhile, is experiencing similar volatility. Trading at $61,164 with a 0.31% dip, it reached a 16-day low. Adding on to it, <a href="https://thenewscrypto.com/dogecoin-price-drops-18-but-whale-activity-hints-at-recovery/" rel="noopener noreferrer nofollow">DOGE</a> has been struggling to maintain bullish momentum. Also, data suggests this downturn may be linked to decreasing trader confidence, as well as volume spikes and increased exchange netflow.</p>
<p>Moreover, Dogecoin’s exchange netflow turned positive, indicating a large inflow of DOGE into exchanges. This excess supply likely contributed to the price decline. IntoTheBlock reported an inflow of 135.2 million DOGE last week, suggesting active selling by investors.</p>
<h3 class="wp-block-heading" id="h-where-is-doge-headed">Where is DOGE Headed?</h3>
<p>On the technical side, DOGE’s daily chart suggests a <a href="https://in.tradingview.com/symbols/DOGEUSDT/" target="_blank" rel="noopener noreferrer nofollow">bullish</a> trend. The 9-day Exponential Moving Average (EMA) sits at $0.11036, and the Relative Strength Index (RSI) stands at 48, indicating it might reach an oversold condition. Immediate resistance levels for BTC are set at $0.13072 and $0.14270, while downside risks could see it drop to $0.09615, with support at $0.08246.</p>
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<p>DOGE’s ability to maintain its bullish momentum amid fluctuating trading activity and whale sell-offs will be key in the coming days. Traders and investors are closely watching for any signs of strength or potential reversals as the cryptocurrency navigates these pivotal resistance levels.</p>

Can DOGE Recover from Market Lows Amid Whale Purchases?

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