Home > Information news > Dogecoin Whale Activity Surges with Over 150 Million-Dollar Transactions Amid Price Drop

Dogecoin Whale Activity Surges with Over 150 Million-Dollar Transactions Amid Price Drop

Release: 2024/06/11 01:06 Reading: 465

Original author:CryptoTale

Original source:https://coinmarketcap.com/community/articles/66672409aeec0224e7aed64d

Dogecoin Whale Activity Surges with Over 150 Million-Dollar Transactions Amid Price Drop

Dogecoin Price Tumbles Despite Whale Activity Surge

Dogecoin has experienced a surge in whale activity, with over 150 transactions exceeding $1 million in the past 24 hours. However, the price has witnessed a sharp decline of 8.71% to $0.1472, amidst high trading volume and bearish sentiment.

Technical Analysis

  • Key Support: $0.1430
  • Key Resistance: $0.1612

Price Trend

Dogecoin's price has shown significant volatility in the short term. After starting at approximately $0.1612, it plummeted to a low of $0.1430 before rebounding slightly to $0.1472. The rapid price drop indicates substantial selling pressure.

Support and Resistance Levels

  • Support Level: $0.1430, representing the recent low. If breached, the price could drop to $0.1420.
  • Resistance Levels:

    • $0.1612, serving as a significant resistance point before the decline.
    • $0.1580 to $0.1590, indicating minor resistance where the price briefly consolidated.

Technical Indicators

  • RSI: At 40.67, suggesting oversold conditions.
  • MACD: Below the signal line, indicating a short-term bearish trend.

Despite the high whale activity, Dogecoin's price has fallen. The technical analysis suggests that the price could face further downward pressure if the key support level of $0.1430 is breached.

Source: CryptoTale

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.