Journalist
Posted:
- DOGE lost key support at $ 0.30, with $ 0.23 which is now the next lower low.
- With a stagnant whale activity, could the same be on the right track for another decline?
Dogecoin’s (DOGE) The slide from its peak of $ 0.48 destined a crucial support at $ 0.30, with $ 0.23 emerging now as the next lower.
With the activity of whales stop, like Ambcrypto reportsDoes Dogecoin are preparing for another clear drop?
This theory seems to have weight when the graph below is observed. Since the peak of Doge, the volume has increased, corresponding to the frenzy observed during its electoral overvoltage, crossing $ 7 billion, highlighted by this long green wick.
Source: tradingView (Doge / USDT)
However, unlike the last time, the consistency of the volume is missing, leaving Dogecoin to be up to its volatile reputation.
In fact, its price action now reflects BitcoinThis means that a wider market rebound is crucial for capital to return to Doge.
That said, his current maintenance model could be a bullish sign for a break, making it the decline to buy. But what happens if Dogecoin challenges traditional expectations and goes in the opposite direction?
Break the chances against Doge
For a same, Doge Social volume has experienced a significant drop since early December, with its domination now at only 1.23%, far from its 2%peak.
Large players have not made substantial purchases, strengthening the idea that a background can be far away.
In addition to that, with the resumption of Doge on the wider of the wider market, uncertainty adds even more volatility to an already fragile asset.
In addition, the combined market capitalization of all the same has reached a summit of $ 72 billion, but now it fell by 2%, losing $ 2 billion in evaluation.
Source: CoinmarketCap
This trend shows that investors change their concentration, chasing fast gains rather than lots for the long term. With these factors that accumulate, Doge’s prospects seem to be more and more down.
If the conditions do not change, it could soon rush for another support line, potentially lower below $ 0.23.