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.