$DOGE Price Rally At Stake Unless These 2 Conditions Are Met - CoinGape Analytics

Dogecoin (DOGE) recently saw a price drop of 4.1% to $0.1044, with a cumulative 0.7% decline over the past week. This dip led to $1.48 million in long position liquidations. A key resistance zone between $0.1101 and $0.1134 has emerged, with a significant number of DOGE holders potentially curbing upward momentum, indicating possible consolidation around $0.1 or further decline to $0.08.

Additionally, a 4% drop in Dogecoin futures’ open interest to $500 million, despite increasing volume, suggests traders are closing positions, reflecting a shift in sentiment or uncertainty. Despite this, whale accumulation remains strong, with large holders increasing their positions, indicating a bullish long-term outlook for Dogecoin.

DOGE is currently below its 20-day EMA and faces resistance at the 50-day EMA. A falling wedge pattern hints at a potential breakout to $0.18 if a trend reversal occurs and the $0.1 support holds.