DOGE Surges 1.90% Despite Whale Sell-Offs Draining $165M from Liquidity

The crypto market experienced a green day with most assets recording modest gains, including Dogecoin, which saw a 1.90% rise to trade at $0.1584. Despite this daily surge, DOGE has been on a longer-term slowdown trend. Recent developments include a significant DOGE whale movement detected on April 17, where 478 million DOGE—worth nearly $75 million—was transferred between two anonymous wallets. Furthermore, analytics revealed that over 500 million DOGE have been sold by whales over the past week, culminating in roughly $165 million being removed from the market liquidity. Although technical indicators such as a bullish RSI crossover and strong support around the 200-day EMA signal potential upward movement, bearish signals like the 50-day EMA breaking under the 200-day EMA and significant whale sell-offs continue to raise concerns among investors. Market participants remain wary as they balance these mixed signals against broader macroeconomic uncertainties that could affect speculative assets like memecoins.