{"id":47017,"date":"2025-02-10T13:11:05","date_gmt":"2025-02-10T13:11:05","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/dogecoin-whale-transactions-drop-70-what-does-it-mean-for-doge-price\/"},"modified":"2025-02-10T13:11:05","modified_gmt":"2025-02-10T13:11:05","slug":"dogecoin-whale-transactions-drop-70-what-does-it-mean-for-doge-price","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/dogecoin-whale-transactions-drop-70-what-does-it-mean-for-doge-price\/","title":{"rendered":"Dogecoin whale transactions drop 70%\u2014what does it mean for DOGE price?"},"content":{"rendered":"

(Originally posted on : Invezz )<\/b>
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Dogecoin (DOGE) has struggled to maintain its recent price levels, with the token declining 7.15% last week. <\/p>\n

As of Monday, DOGE was trading at around $0.25, having dropped below the key 50% Fibonacci retracement level of $0.27, which was drawn from its August 14 low of $0.05 to its December 2 high of $0.48.<\/p>\n

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Source: CoinMarketCap<\/a><\/p>\n

With technical indicators signaling increased bearish momentum, the meme coin faces the risk of further downside pressure. <\/p>\n

If the trend continues, DOGE could extend its correction toward its next major support at $0.18.<\/p>\n

Market sentiment surrounding DOGE remains cautious, as traders closely watch its technical patterns. <\/p>\n

The Relative Strength Index (RSI) sits below its neutral 50 level, indicating that sellers are in control.<\/p>\n

Meanwhile, the Moving Average Convergence Divergence (MACD) has confirmed a bearish crossover, reinforcing expectations of a continued downward move.<\/p>\n

Given these indicators, analysts are assessing whether DOGE can stabilize or if the cryptocurrency is headed for further decline.<\/p>\n

RSI and MACD confirm a downtrend<\/h2>\n

Dogecoin\u2019s price structure continues to weaken as technical indicators align with a bearish outlook. <\/p>\n

The RSI on the weekly chart stands at 48, falling below its neutral threshold of 50, which suggests that selling pressure is increasing.<\/p>\n

Historically, an RSI below 50 indicates that momentum favors the bears, raising the possibility of extended losses.<\/p>\n

The MACD also presents a bearish signal, with the MACD line crossing below the signal line on the weekly chart. <\/p>\n

This crossover typically indicates that downward momentum is gaining strength, often leading to further price declines.<\/p>\n

If the current trajectory persists, DOGE could test lower support levels in the coming weeks.<\/p>\n

Key support and resistance levels<\/h2>\n

Dogecoin\u2019s immediate resistance remains at $0.27, the 50% Fibonacci retracement level that previously acted as support. <\/p>\n

A break above this level could ease downward pressure, but with current momentum indicators pointing to further declines, the next critical level to watch is $0.18. <\/p>\n

This weekly support zone has held firm in past corrections, making it a key level for traders looking for potential rebounds.<\/p>\n

If DOGE falls below $0.18, it could trigger additional selling pressure, pushing prices further down. <\/p>\n

However, a bounce from this support level could offer some relief, particularly if broader market conditions improve.<\/p>\n

Traders will be closely monitoring whether DOGE can stabilise above its critical support, or if bearish momentum will drive it lower.<\/p>\n

Market trends impact DOGE<\/h2>\n

Dogecoin\u2019s price action is not occurring in isolation, as the broader cryptocurrency market also plays a role in shaping sentiment. <\/p>\n

Bitcoin and Ethereum have shown signs of volatility, and any major moves in these assets could impact DOGE\u2019s trajectory.<\/p>\n

Investor appetite for meme coins has cooled compared to previous market cycles, with DOGE struggling to attract the same level of speculative interest it once did.<\/p>\n

While DOGE remains a popular asset among retail traders, its price performance in the near term will likely depend on whether bearish momentum continues or if a shift in market sentiment can support a recovery. <\/p>\n

Until key technical indicators show signs of reversal, traders may remain cautious about DOGE\u2019s potential to regain lost ground.<\/p>\n<\/p>\n

The post Dogecoin whale transactions drop 70%\u2014what does it mean for DOGE price?<\/a> appeared first on Invezz<\/a><\/p>\n

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(Originally posted on : Invezz ) Dogecoin (DOGE) has struggled to maintain its recent price levels, with the token declining 7.15% last week. As of Monday, DOGE was trading at around $0.25, having dropped below the key 50% Fibonacci retracement level of $0.27, which was drawn from its August 14 low of $0.05 to its […]<\/p>\n","protected":false},"author":3947362361,"featured_media":47018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[37],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47017"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362361"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=47017"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/47017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/47018"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=47017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=47017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=47017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}