$DOGE has experienced a significant decline in the past month. In the past 30 days, the price of Dogecoin has fallen by 14.98% and by 7.46% in the past 7 days.

According to the data, DOGE is trading at $0.1342, down 1% in the past 24 hours.

DOGE will stabilize around $0.123. In the short term, DOGE price may consolidate between $0.12 and $0.15.

However, analysis suggests that in a long-term bullish scenario, its price may reach $0.17 to $0.2.

So, with the increase in selling, DOGE may test the $0.12 support level, while continued market activity will lead to a breakthrough of the $0.169 resistance level.

Looking further, the RSI of 36 indicates an impending bullish trend. If the market remains stable and the RSI rises, the indicator shows a possible reversal. Although there is a bearish trend at present, a reversal in the future is possible.

Likewise, the data shows low liquidity levels over the past seven days. On June 15, DOGE reported low liquidations for both short and long positions, at $61.6K and $139.2K respectively.

As of posting time, short positions reported $105.7K, while long positions reported $1.07K. The liquidations of both short and long positions indicate that the market is consolidating at current prices while remaining stable.

However, conditions are more favorable for short investors. This leads to increased accumulation on both sides and positive future price sentiment.

According to the data, whales with more than $5 million are continuously accumulating assets. At press time, more than 52% of the assets are accumulated by whales with more than $5 million.

The accumulation of whales and the decrease in liquidations imply positive market sentiment.

DOGE has continued to fall over the past seven days, but investors remain optimistic, with whales accumulating more than $5 million and fewer liquidations.

If negative market sentiment persists, DOGE will need to test the weak local support level of about $0.12.

If selling pressure persists, the market will reverse and break through the resistance level of about $0.169.

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