162 million DOGE inflow raises concerns – Can Dogecoin maintain its wedge pattern?

The recent inflow of 162 million DOGE has created selling pressure as the price hovers around 0.1518 USD. Despite this, buyers are absorbing supply and holding the support level, which is pivotal for Dogecoin’s future trading.

While Dogecoin is contained within a descending wedge with support at 0.1518 USD, bullish indicators like rising Open Interest and Taker Buy CVD suggest that buyers are actively participating, which may lead to a recovery above resistance levels.