Whale activity indicates selling pressure: A recent transfer of 146.6 million DOGE, valued at 56.5 million USD, to Robinhood highlights a potential for increased selling pressure, which may lead to further declines. This type of activity suggests a negative sentiment in the market.
Technical patterns suggest a drop: Technical analysis reveals DOGE formed a bearish inverted hammer pattern at the resistance level of 0.42 USD. If DOGE cannot break this barrier, it risks a price drop of 20%, potentially reaching around 0.35 USD.
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