Dogecoin

DogeCash

0.5X Long Dogecoin Token

<p>The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/dogecoin-price-at-risk-analysts-predict-20-decline/" rel="noopener noreferrer nofollow">Dogecoin Price at Risk: Analysts Predict 20% Decline</a><a href="https://cryptosnewss.com/david-sacks-named-white-house-ai-and-crypto-czar/" rel="noopener noreferrer nofollow"> </a>appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.</p><p>Dogecoin (DOGE), the popular and world’s largest crypto-<a href="https://cryptosnewss.com/category/meme-coin/" rel="noopener noreferrer nofollow">meme coin</a>, is poised to continue its downward momentum as whale activity and price action indicate a bearish sign.</p><h2 id="header-0">Whale Dumped 146.6 Million DOGE</h2><p>Recently, <a href="https://x.com/whale_alert/status/1866569489040413085" rel="noopener noreferrer nofollow">Whale Alert</a>, a whale transaction tracker, posted on X (formerly Twitter) that an unknown wallet had transferred a significant 146.6 million DOGE worth $56.5 million to the cryptocurrency exchange Robinhood.</p><p>In the realm of cryptocurrency, the transfer of assets from wallets to exchanges is often seen as a negative sign. It indicates that these assets are being transferred with the intention of being sold, which can create selling pressure and lead to price declines.</p><h2 id="header-1">Dogecoin (DOGE) Technical Analysis and Upcoming Levels</h2><p>According to expert technical analysis, DOGE appears bearish as it has formed an inverted hammer candlestick pattern at the crucial resistance level of $0.42. Additionally, it has also begun to show downside momentum, which partially confirms this bearishness.Based on recent price action and historical price momentum, if DOGE remains below the $0.42 level, there is a strong possibility it could decline by 20% to reach $0.35 in the coming days. However, this bearish thesis is only valid as long as <a href="https://cryptosnewss.com/analyst-predicts-dogecoin-doge-surge-to-3-is-it-realistic/" rel="noopener noreferrer nofollow">DOGE</a> is trading below the $0.42 level, otherwise, it may fail.</p><p>Despite this bearish outlook, the 200-day Exponential Moving Average (EMA) on a daily time frame indicates that it is in an uptrend.</p><h3 id="traders-bearish-outlook">Traders Bearish Outlook</h3><p>However, this bearish outlook is further supported by on-chain analytics firm Coinglass. Data from DOGE’s long/short ratio indicates that short sellers are currently dominating.</p><p>t press time, this ratio currently stands at 0.78, a record low since the beginning of November 2024. In addition to this, currently, 56% of top traders hold short positions, while 44% hold long positions.</p><p>The post <a href="https://cryptosnewss.com/dogecoin-price-at-risk-analysts-predict-20-decline/" rel="noopener noreferrer nofollow">Dogecoin Price at Risk: Analysts Predict 20% Decline</a> appeared first on <a href="https://cryptosnewss.com" rel="noopener noreferrer nofollow">Cryptos Newss</a>.</p>

Dogecoin Price at Risk: Analysts Predict 20% Decline

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