Dogecoin has been subjected to a new sale pressure, as whales sold $ 40 million in the past 24 hours. This procedure follows with the continued loss of the main memein main support levels, making it exposed to a further decrease.
Dokwin It is currently being traded at $ 0.2289, which is 14 % less than it was within one week, and has a market value of 34.49 billion dollars.
Whale deals contribute to the sale of pressure
The previous day, we saw senior carriers taking tens of millions of symbols from the market. You may exercise this price, although $ DOGE shows signs of weakness in short time.
The trading volume decreased dramatically. The volume of 51.74 % has decreased in the past 24 hours to $ 1.91 billion, indicating low activity and liquidity compared to the past few weeks.
The main support and resistance levels of playing for Dogecoin
Technically, Dokwin It tests a large level of support at $ 0.220. Analysts believe that failure to maintain this mark will lead to a decrease in the price to 0.21 before it attracts the attention of fresh purchase.
On the positive side, the resistance was observed at $ 0.240. To convert the tide in favor of bulls, there will be a need for this level. At this stage, the trend is conservative, as the distinctive symbol continues to hit the lowest low levels in the chart for four hours.
The future seems uncertain
Relative power index (RSI) Dokwin It is 42 in the daily, which indicates that the original is not in excessive timing; He is in distress.
Although volatile actions are usually driven by whale movements in the short term, other market conditions will affect the subsequent stage of prices for $ DOGE.
Investors strongly monitor whether Dogecoin will be able to stabilize its prices at the present time or its second leg is imminent before it rises.
Since the Memecoin market calms down weeks of tremendous speculation, Dogecoin’s ability to support itself can lead to a new momentum or lengthen its slowdown in the near future.
