DOGE Price On Thin Ice As Long-Term Holders Continue to Sell
Dogecoin's price is under pressure as long-term holders are selling, threatening the critical $0.17 support level.Summary
Dogecoin's early November bounce is weak, with the price down nearly 27% this month, and on-chain data signals a deepening sell trend, putting the $0.17 floor at risk. The strongest short-term support cluster is between $0.177 and $0.179, where long-term holders have heavy supply. However, the Hodler Net Position Change flipped sharply negative on October 31, indicating long-term wallets are offloading holdings, which could thin out this crucial buffer. Furthermore, a looming death cross, where the 100-day EMA approaches a drop below the 200-day EMA, reinforces the bearish structure and could accelerate a breakdown toward the next support at $0.14 if the $0.17 zone fails. DOGE currently trades near $0.18, needing a daily close above $0.21 to invalidate the bearish outlook.
(Source：BeInCrypto)