Dogecoin (DOGE) is currently trading at $0.1495, with a weekly gain of approximately 4%, but remains stuck in a tight range between support at $0.1476 and resistance at $0.1499. According to data from Santiment, whale transactions involving over $1 million have plummeted from 285 to below 38 over the past two months, indicating reduced involvement from institutions and influential individuals.
This decline in high-value activity coincides with a price drop from $0.271 to as low as $0.13, marking a significant retracement. On-chain data from CryptoQuant reveals that whales are accumulating DOGE on the spot market, albeit slowly, while retail traders dominate the futures market with bearish sentiment, as reflected by a reading of 1.31 from Market Prophit.
Analyst Trader Tardigrade on X noted that historical data from Q4 2024 suggests a potential price rally for DOGE, possibly surpassing the $0.60 threshold, based on similar breakdowns of support levels. However, this outlook depends on broader market conditions, as the current retracement in chain activity and price action may be nearing an end.
ZKP
XLM
LTC
ZEC
XRP
SHIB