🐳In the wake of a 28% drop in the price of Dogecoin, DOGE whales are making an effort to resuscitate the cryptocurrency's valuation🐳

👉Over the course of the previous month, the price of Dogecoin has seen a decline of almost 25 percent, and the meme currency is now trading at $0.077.

👉Moreover, individual investors in DOGE have been decreasing their holdings, as seen by a 36.8% decrease in the average number of active addresses.

👉In the last two weeks, whale addresses that are known to have an effect on the market movement have started to accumulate, contributing a total of ten million dollars in DOGE.

👉Over the course of the previous month, the price of dogecoin has been consistently falling, making it one of the most disheartening characteristics of the cryptocurrency market. Due to the lack of growth, even retail investors have removed themselves from the process of executing transactions. This is because the absence of growth has been so persistent. Whales, who are hoping to launch a resurgence for the meme currency, are now the ones who are responsible for bearing the heavy weight.

👉A further decrease in the price of dogecoin

Having already lost the 50-day and 100-day exponential moving averages, the price of Dogecoin, which is now trading at $0.077 at the time of this writing, has almost broken through the support provided by the 200-day Exponential Moving Average (EMA). As a consequence of the downturn that started at the beginning of December, the value of DOGE has dropped by about 25 percent in only one month.

👉Despite the fact that negative signs have reversed the potential over the course of the previous couple of days, the price indicators Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have both failed to demonstrate bullishness.

👉This indicates that the downturn may continue, and it is possible that the price of Dogecoin may end up sliding through the support at $0.074 and reaching the important support line at $0.070. #TrendingTopic #TradeNTell #DOGE #elonMusk