#DOGEUSDT is currently down 3.16% in the last 24 hours at $0.125
$DOGE is the largest Doge-themed cryptocurrency by market cap, with a whopping $1.09 billion in trading volume
According to the data, large volume estimates the total volume of transactions by whales and institutional players on a given day
The surge in large volume indicates increased activity from institutional players, both buying and selling
In the last 24 hours, Dogecoin reported $1.09 billion in large volume, equivalent to 8.61 billion Dogecoins worth of cryptocurrency
During Tuesday’s trading session, Bitcoin fell to lows near $65,000 as traders speculated that the U.S. government might sell off a large portion of its cryptocurrency holdings
The U.S. Treasury Department has accumulated billions of dollars in cryptocurrency seizures after cracking down on darknet markets such as Silk Road
Dogecoin has also not escaped the bear trend and is now trading in the red
After four consecutive days of decline, Dogecoin fell from its 50-day moving average of 0.123 in early trading today. The rebound in the US dollar indicates that bulls may be trying to turn this level into support
Dogecoin’s value is still falling now as the impact of bulls’ attempts to stop bears is yet to be felt
Dogecoin is currently down 3.16% in the past 24 hours at $0.125 and down 5.42% on a weekly basis
If bulls succeed in turning the daily SMA 50 into support, the price of Dogecoin may see a rebound with a target of $0.134 at the daily SMA 200
If the breakout is sustained, buyers may try to push the price above $0.14 to start the rise of Dogecoin towards $0.18
Dogecoin bears may have a different plan. They will try to drop the price below the solid support level of $0.12
If they succeed, selling may increase and Dogecoin may fall to $0.10
