Dogecoin faces sell pressure as 5 billion coins hit exchanges

After recent gains, Dogecoin (DOGE) has encountered substantial sell pressure, with reports showing 5 billion coins moved to exchanges, a level not seen in three years. This influx indicates a growing intent by holders to offload their positions.

The Realized Profit/Loss Ratio for DOGE stands at 15.78, reflecting significant profit-taking among investors. Although the coin witnessed a 2% rise in the last 24 hours, the bearish sentiment suggests possible downside risk, especially if selling continues.