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1 Billion DOGE Acquired by Whales Amid $3 Million Short Liquidation
In the last 24 hours, whale addresses purchased 1 billion DOGE, as noted by analyst Ali Martinez. Currently, DOGE trades at $0.2009, down nearly 10% for the week and below key support levels.
Key Points
- DOGE derivatives volume increased by 2.43% to $4.82 billion.
- Open interest in DOGE futures contracts decreased to $3 billion.
- A $3 million liquidation of short positions occurred near $0.208.
- Price volatility indicated by an ascending broadening wedge pattern on the weekly chart.
- Potential price target if the trend continues is $1.40.
- Technical indicators show bearish MACD and RSI at 44.7, indicating a cooling market.
- Retail investors remain cautious amid whale activity and selling pressure at resistance levels.
The future price movement of DOGE may depend on sustained whale purchases and retail investor sentiment.
Authors credited by the source: Parth Dubey
Published by Holder based on an external source.
