Not ETF Buzz, Nor Whales — This Group Can Save Dogecoin (DOGE) Price From a Breakdown
Long-term Dogecoin holders selling aggressively are preventing a price recovery, despite whale accumulation and ETF news.Summary
Dogecoin's price is declining despite positive signals like increased whale accumulation and buzz surrounding a potential Bitwise spot Dogecoin ETF. Whales have increased their holdings by 3.36 billion DOGE in a week, yet the price continues to slide.
The key factor suppressing the price appears to be aggressive selling by long-term holders (Hodlers), whose net position change shows significant outflows, increasing by 138% in less than a week. Historically, a shift from outflows to inflows by this group has preceded significant DOGE rallies.
Technically, DOGE is near a critical support cluster between $0.164 and $0.165. If this level breaks, the price could quickly fall to $0.158 and potentially lower. A sustainable recovery requires long-term holders to stop selling and resume accumulating coins.
(Source：BeInCrypto)