Dogecoin

Resistance

<ul class="wp-block-list">
 <li>Dogecoin whale transactions above $100K dropped from 20.2K to 6.2K, indicating lower investor interest and market liquidity.</li>  
 <li>The price has dropped 49% to December 7, trading at $0.24-$0.25, with a drop to $0.10-$0.14</li>  
 <li>Resistance at $0.36-$0.32 continues to be key, and investors follow whales for indications of buying and a potential reversal in trends.</li> 
</ul>  
<p>Dogecoin has <a href="https://cryptofrontnews.com/dogecoin-doge-eyes-0-6533-breakout-as-bullish-momentum-builds/" rel="noopener noreferrer nofollow">experienced a steep decline</a> in its whale transactions, and its market capitalization suffered a big blow as a result. A decrease in large-ticket transactions can equate to reduced activity from institutional investors, and it occurs in an overall downtrend in price.</p>  
<p>Recent data from Santiment revealed a significant dip in Dogecoin whale transactions. In a post, $100K+ transactions have gone below a third of their early November high, a sign of a sharp slowdown in big player activity.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/santimentfeed/status/1888000707539653120
 </div>
</figure>  
<h2 class="wp-block-heading" id="strong-declining-whale-trades-and-market-action-strong"><strong>Declining Whale Trades and Market Action</strong></h2>  
<p>The number of Dogecoin transactions worth over $100,000 has fallen to 6,200, down from 20,200. Transactions worth over $1 million have fallen to 850, down from 3,490. That drop reflects fewer larger investors in circulation in the marketplace.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfYjMvz_LGw413CiG86d0gy8eS9gWaPuvPEK1xjjQhAGzzNFq750EcFVLvxT7zWzVs_XLPMRKrgOPE3g6ZYw0e6nRV-vPtjaHqzYc7kI6B9dwa64vySuCZV5pr4RiuDHYtBHXfG?key=rA7IzRSsV86CXo4PiezqUmi2" alt="">
 <figcaption class="wp-element-caption">
  Source:<a href="https://pbs.twimg.com/media/GjOGPMSWIAAPmp0?format=jpg&amp;name=4096x4096" target="_blank" rel="noopener noreferrer nofollow"> X</a>
 </figcaption>
</figure>  
<p>Dogecoin's market value declined 49% since its December 7th high level. Lower activity in whales reflects less liquidity and no strong buying demand for institutional investors.</p>  
<h2 class="wp-block-heading" id="strong-price-trend-and-key-support-levels-strong"><strong>Price Trend and Key Support Levels</strong></h2>  
<p>The Dogecoin after reaching a high of around $0.50, has been on a downtrend since then. Dogecoin has been making repeatedly lower highs and lower lows, which is proof of a downtrend. At press time, Dogecoin was at <a href="https://www.coingecko.com/en/coins/dogecoin" target="_blank" rel="noopener noreferrer nofollow">$0.2481</a>, down 1.80% in 24 hours of trading and 22.85% over seven days.&nbsp;</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdRyWP3ySufa5E6cCht93QZ3zR9uulRQq82BcIjtgOEOBA9YBHe1yac5vTuwjxsFW2-3nfQnJW7LoruIoA9bJU_xATdi-lnJVNMpzj_xlwVkriyxRCXpX9nYpMnEwqYgDriUJqKwg?key=rA7IzRSsV86CXo4PiezqUmi2" alt="">
 <figcaption class="wp-element-caption">
  Source: <a href="https://www.tradingview.com/x/3Wwx0BnR/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>  
<p>The token is testing a strong support level between $0.24 and $0.25. A breakdown below the range could drive the price even towards the next strong support level between $0.10 and $0.14, an older resistance level before Dogecoin's breakout in October.</p>  
<h2 class="wp-block-heading" id="strong-resistance-and-potential-price-movements-strong"><strong>Resistance and Potential Price Movements</strong></h2>  
<p>Resistance levels a<a href="https://cryptofrontnews.com/altcoin-market-cap-faces-resistance-at-425b-amid-shallow-retrace/" rel="noopener noreferrer nofollow">t $0.32 and $0.36</a> are important in terms of price rejection in the past and at the channel's descending midpoint. In case Dogecoin is about to break through, a reversal towards increased price could occur. Nevertheless, sustained sell pressure and lack of activity in whales can hinder a breakaway.</p>  
<p>Dogecoin is in a firmly established downtrend channel at present. Short-term relief can occur, but only if the price holds at the $0.24 level. Otherwise, weakness can intensify.</p>

Dogecoin Whale Activity Slows As Market Cap Falls 49%

Table of Contents

CFN

Other articles published on Feb 8, 2025

Why Qubetics, XRP, and Algorand Are the Best Altcoins To Buy In February 2025: Key Features, Uniq...

These 3 High-Potential Cryptos Are Set to Disrupt DeFi, AI, and Blockchain

Cboe BZX Files for Multiple Spot XRP ETFs with SEC: What You Need to Know

📈 If Solana Repeats Its 2021 Run, This Altcoin Will 5000x!

Brazil’s Crypto Boom Fueled by Stablecoins; Central Bank Chief Warns of Regulatory Challenges

USDT Supply on Tron Nears Record High

Join our free newsletter for daily crypto updates!