Dogecoin [DOGE] has experienced a sharp decline in the last month. Over the last 30 days, Doge has reported a 14.98% price decline.
Dogecoin experienced a 14.98% decline last week. However, whales with over $5 million in DOGE continue to hold the market.has experienced a sharp decline in the last month. Over the last 30 days, Doge has reported a 14.98% price decline and a 7.46% decline in the last seven days.According to AMBCrypto’s analysis, DOGE is set to stabilize around $0.123. In the short run, DOGE prices will likely consolidate between $0.12 and $0.15.Thus, with higher sell-offs, DOGE is likely to test the $0.
Equally, data from Coinglass indicates low liquidity levels in the last seven days. On 15th June, DOGE reported meager liquidation rates for both shorts and long positions, each reporting $61.6k and $139.2k, respectively. Short positions report $105.7k at press time, while long positions have $1.07 million. Short and long positions liquidation shows that the market is consolidating at the current rates while enjoying stability.However, short-position investors are in more favorable conditions. This has resulted in increased accumulation for both sides and positive future price sentiment.
In detail, according to Santiment, Whales with over $5 million are increasingly accumulating their assets. At press time, over 52% of assets are accumulated by whales with over $5 million.DOGE has continually declined in the past seven days. However, investors remain optimistic, with increased accumulation by whales of over $5 million and reduced liquidation.However, if the selling pressure persists, the market will get a reversal and breakout off the resistance level of around $0.169.
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