7.72 Billion Dogecoin in 24 Hours: Yet DOGE Price in the Red! 😮📉
Data from IntoTheBlock reveals 7.72 billion Dogecoin in large transactions in the past 24 hours, typically indicating “whale” activity 🐳💰. This volume amounts to $1.23 billion but marks a 33.39% decrease in this period 📉🔻.
Dogecoin's price saw a 5.03% drop in the last 24 hours to $0.152 amid market-wide selling 😬🚨. Bitcoin also declined by around 2%, driven by profit-taking over the weekend, resulting in over $235 million in liquidations 📉. Dogecoin contributed $8.59 million to this total 😮💥.
The Fear and Greed Index, a sentiment gauge, currently shows “greed,” which may indicate further potential declines 📉💡.
What’s next for Dogecoin? 🤔
Dogecoin’s failure to break $0.18 on October 29 led traders to secure profits 💵. Since then, it has been in the red four out of five days 📉. Still, DOGE is 11% higher on a weekly basis 🚀, though it’s struggling to hold above $0.15. A bounce from $0.15 could show bulls turning it into support 🐂💪, potentially enabling a push above $0.18 toward $0.21 📈🚀.
However, if DOGE dips below $0.14, this outlook may weaken 🚫🔻, with the 50-day SMA at $0.12 offering the next support level 📊🛠️.