Can the rally of $DOGE continue? It depends on the movements of big investors!

DOGE has indeed performed very strongly this week, but we have to discuss whether it will fall back. Recently, DOGE has indeed been very popular and investors are very enthusiastic about buying it. However, after such a rapid rise, there may be a period of respite, allowing those who bought it early to have a chance to take profits.

Judging from some market indicators, DOGE seems to have risen a little too hot and shows signs of "overbought". It has broken through the key resistance level of $0.128 and may challenge the price level of around $0.15 next.

Data shows that on Thursday, big investors bought a large amount of DOGE, with a single-day inflow of 11.7 billion and a transaction amount of $640 million. This shows that although the price has been rising, investors' willingness to buy is still strong.

However, not all big investors are holding DOGE for the long term. Some big investors and volatile traders have begun to exit after making profits, but their shares have been taken over by retail investors. Retail holdings increased from 8.75 billion to 10.74 billion, showing that retail investors are very enthusiastic.

In general, the current situation of DOGE is that some big players have withdrawn after making profits, but retail investors have strong purchasing power and have been supporting the price of DOGE. Therefore, if big players stop buying, DOGE may lose its momentum to rise. However, these observations also reflect that by the fourth quarter of 2024, DOGE holders are becoming more and more confident.