Dogecoin (DOGE) survived a period of market volatility last week, falling to $0.087 on Monday before rebounding. Technical indicators showed a bullish crossover on the daily MACD, pointing to a potential trend reversal. This helped boost DOGE 5.2% over the next 24 hours to retest resistance at $0.0933.
A significant transaction was observed on the Dogecoin blockchain, with one whale sending over 85 million DOGE (~$7.2 million) to the crypto exchange Robinhood. Shortly after, another transfer of 64.7 million DOGE went to Coinbase. Crypto analysts believe these exchanges helped provide liquidity and boosted short-term price action.
🚀 NOTABLE $DOGE TRANSFER TO ROBINHOOD!
— Shekhar Banerjee (@0harekrishna0) December 19, 2023
🔥 A substantial transfer of 85,000,943 #DOGE (7,574,854 USD) was made around 10 hours ago.
The amount was sent from the wallet address DA4dCum1tZAyZzW9KC1EBGqL5Mseo1r46i to #Robinhood .
📄 Transaction Hash:👇… pic.twitter.com/0KKWWupW2b
However, breaking above the key $0.10 level has proven difficult. This price served as resistance back in mid-November, coinciding with Elon Musk’s Twitter acquisition. Now traders are watching to see if DOGE can sustain gains over $0.095, where around 70% of holders are currently in profit. Breaking higher could relieve selling pressure and spark further upside.
Technical indicators paint a mildly bullish picture, with the daily RSI just below 40. Charts show the $0.097-$0.099 range as a make-or-break point. If DOGE holds above $0.095 in this test of resistance, it could set the stage for another run at breaking the symbolic $0.10 barrier in the weeks ahead. For now, Dogecoin trades sideways at around $0.0912 as consolidation continues.
Folgen Sie uns auf X und CoinMarketCap, um über alle unsere neuesten Nachrichten und Updates aus der Kryptoindustrie auf dem Laufenden zu bleiben.
Haftungsausschluss: Dieser Artikel sollte nicht als Anlageberatung verstanden werden und ist nicht dazu bestimmt, diese anzubieten. Die Kryptozeitung und ihre verbundenen Unternehmen, Mitarbeiter, Schriftsteller und Subunternehmer sind Krypto-Währungsinvestoren und haben von Zeit zu Zeit möglicherweise Anteile an einigen der von ihnen abgedeckten Münzen oder Token. Bitte führen Sie Ihre eigene gründliche Recherche durch, bevor Sie in eine Kryptowährung investieren.
