BlockchainBridges Labs
02/08 12:15
$DOGE /May Dogecoin Lose $0.20 Support in February? 🧩Dogecoin fell 0.46% to $0.24 on Friday, February 7th. Bitcoin failed again to stay over $100k, causing market drop and selling pressure. As onchain whale activity drops, DOGE sellers may hasten the downturn. 🧩1M+ weekly DOGE transactions dropped from 3,490 to 840, suggesting less investor participation. 🧩A 30% drop is predicted by the double top reversal pattern breakdown for dogecoin. The DOGE adjustment occurred between $0.22 to $0.173. 🧩Over 60% DOGE Whale Trades Decline Dogecoin whale activity has plummeted, with huge transactions drying up. On-chain analytics company Santiment reports a dramatic decline in $100K+ DOGE transactions from 20.2K to 6.2K weekly. 🧩The $1M+ weekly DOGE transaction fell from 3490 to 840, indicating that significant investors have either accelerated or stopped accumulation. 🧩The analysis platform tweeted that DOGE's whale behavior may indicate a resurgence in accumulating. 🧩Reversal Pattern Could Break Dogecoin Price at $0.2 🧩Dogecoin fell 28% from $0.34 to $0.248 in February's first week. Daily chart analysis shows the meme coin price broke down from the $0.26 double bottom neckline support. 🧩The chart setup should include two important reversals resembling the letter "M," signaling heavy supply pressure from above. ⬆️ 🧩The DOGE price may rise over the weekend and test $0.26 as resistance. If the pattern maintains, the asset might fall 29% to $0.174 after the collapse. #BTCNextATH? #USJobsDrop #USJoblessClaimsRise #BitcoinWhaleMove $DOGE
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