DOGE price faces challenges: Will the decrease in Whale activity and the crossover of death make it stagnant?

The price of DOGE (DOGE) is facing two important pressures: the sharp decline in Whale activity and the death cross technical signal. Since November last year, the Whale trading volume of DOGE has dropped by 88%, indicating a significant decline in the interest of large holders. This change is consistent with the downward trend in DOGE price, which has fallen from $0.476 to $0.267.
Technical analysis shows that the MVRV ratio has fallen below the 200-day moving average, forming a 'death cross', indicating a potential 26% to 44% price decline. The current price is $0.266, and the bearish trend in the short term has not yet dissipated.
However, optimistic analysts believe that the current pullback is just a pre-surge adjustment, predicting that DOGE may soar to $7 in the next 5 months after breaking through key resistance. Historical trends also support this view, with a market pattern similar to 2017 possibly paving the way for the next breakout of DOGE.
Despite the short-term bearish outlook, DOGE may still break through resistance and reach a new all-time high of $10 due to external market forces and renewed investment interest. #创作者挑战赛