Analyzing the Potential of Dogecoin (DOGE) Amidst Bullish Signals and Waning Whale Activity
Whales Are Selling Their DOGE
The decline in large-scale DOGE addresses points to profit-taking after recent price surges. While whale selling may increase market supply, bullish market forces seem to counteract downward pressure.
DOGE Holders With At Least 10M coins
- Holders with 10-100 million DOGE decreased from 553 to 548.
- Holders with 100 million to 1 billion DOGE decreased from 137 to 133.
ADX and SAR Metrics Show DOGE Trend Could Change Soon
The SAR indicator suggests a potential trend reversal as dots move above price candlesticks, indicating a possible downturn. ADX value of 33.9 reflects moderate trend strength, hinting at a shift in DOGE's momentum.
DOGE Price Prediction
Despite EMA lines signaling an upward trend, other metrics like ADX and SAR suggest a potential consolidation phase between $0.17 and $0.20, with support at $0.12. A bullish breakout could see DOGE targeting the $0.29 resistance level.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.