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BitcoinSistemi 2025-05-21 12:01:20

Whale Alert in Dogecoin! Millions of Dollars of Sale! What Does It Mean? Here Are the Details

Whale Alert in Dogecoin! Millions of Dollars of Sale! What Does It Mean? Here Are the Details

While Dogecoin (DOGE) has been consolidating just below the $0.26 level in recent days, the sales made by whales are drawing attention. Dogecoin Continues to Maintain Bullish Structure: Whales Sold $40 Million Worth of DOGE, Is a New Bounce Imminent? According to on-chain data, 170 million DOGE, or roughly $40 million worth of tokens, have changed hands in the past few days. This development may indicate that the market is preparing the ground for a possible upward breakout. Technical Outlook: A Healthy Correction? Dogecoin is still maintaining a strong bullish structure despite experiencing an 18% pullback since its local peak on May 11. The price action has formed a structure similar to a classic “bull flag” formation following the rally that began in early April. Analysts predict that the current consolidation is a healthy correction and that DOGE could bounce to the $0.35 to $0.45 range in the next 7 days. These targets imply a potential gain of 52% to 114% from the current price level. Technical Analysis Highlights DOGE formed an upward channel, showing an uptrend between $0.222 and $0.228. The critical support level is positioned in the $0.218–$0.219 range. Selling pressure was observed in the $0.233–$0.234 area, which stands out as a key resistance area. The rapid pullback from the daily top suggests that short-term consolidation may continue, but the overall structure is still supported by higher lows. In recent hours, DOGE fell from $0.233 to $0.227, a 2.57% correction. There were several attempts to find support in the $0.227–$0.228 range, which suggests that traders are watching these levels closely. The Role of Whales Although large-scale selling by whales usually causes short-term volatility in the market, such movements can also be interpreted as a harbinger of the next rally. The fact that technical structures are giving positive signals and the general market sentiment remains strong supports the expectation of a potential bounce for Dogecoin. The next week could be critical for Dogecoin traders as whether the price can break the $0.26 resistance will determine the direction of the next major move. *This is not investment advice. Continue Reading: Whale Alert in Dogecoin! Millions of Dollars of Sale! What Does It Mean? Here Are the Details

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