On February 7, on Friday, the price of Dogecoin decreased by 0.46 % to reach a trading value of $ 0.24. The pressure pressure can be attributed to the wider market correction as Bitcoin shows another failed attempt to maintain more than $ 100,000. However, DOGE sellers can increase the speed of the current correction as ONSAIN data records a significant decrease in whale activity.
According to Coingecko, the market value of DOGE is 36.7 billion dollars, while trading volume 24 hours is at $ 1.92 billion,
The most prominent major events:
- 1M+ DOGE weekly transactions decreased from 3490 to 840, indicating a decrease in the participation of the main investors
- Dogoin price collapse of the dual reflection pattern is 30 % in the foreground.
- Doug’s correction between the support can be witnessed at $ 0.22 and $ 0.173.
Doug Hout deals decrease more than 60 %
The activity of the Docain whale, which was suffering from a day, has witnessed a dramatic decline, as large transactions dried up at a risk rate. According to the Series Analysis Company SantimThe number of DOGE transactions has decreased by $ 100,000 from 20.2 thousand to only 6.2 kilos per week, which represents a significant decrease in the wide -ranging movements.
Likewise, the DOGE weekly treatment of one million dollars+ 3490 to 840 has decreased, highlighting that the main investors have either enthusiastic positions or temporary accumulation.
A tweet from the platform of analysts indicates that the high activity in the Doug whale can indicate a renewed trend.
The price of Dogecoin is preparing for a collapse of $ 0.2 amid the reflection pattern
In the first week of February, Dogecoin price saw a sharp decrease from $ 0.34 to $ 0.248, with 28 % offer. According to the daily graph analysis, the price of a decrease in Meme gave a declining collapse from the support of the $ 0.26 neckline for the double bottom style.
In theory, the preparation of the graph is characterized by two main repercussions such as the letter “M”, indicating the presence of high pressure from above.
The next weekend can enhance the price of DOGE and re -test the 0.26 dollar level as a possible resistance. If the style is correct, post-Breakdown may albeate 29 % down to $ 0.174.
On the contrary, buyers need to restore support for the neckline to restore their control over the original.
Also read: SEC delay a decision on Ethereum ETF options, here are what analysts say
