Price: $0.39751 2.8291%
Market Cap: 58.39B 1.7688%
Volume (24h): 8.8B 0.4%
Dominance: 1.7688%
Price: $0.39751 2.8291%
Market Cap: 58.39B 1.7688%
Volume (24h): 8.8B 0.4%
Dominance: 1.7688% 1.7688%
  • Price: $0.39751 2.8291%
  • Market Cap: 58.39B 1.7688%
  • Volume (24h): 8.8B 0.4%
  • Dominance: 1.7688% 1.7688%
  • Price: $0.39751 2.8291%
Home > Information news > 32.68 Billion Dogecoin (DOGE) Resistance to Watch

32.68 Billion Dogecoin (DOGE) Resistance to Watch

Release: 2024/08/16 01:08 Reading: 566

Original author:U_Today

Original source:https://coinmarketcap.com/community/articles/66be1da8893d9057ba55e76a

32.68 Billion Dogecoin (DOGE) Resistance to Watch

Dogecoin (DOGE) Price Analysis

The value of Dogecoin (DOGE) has experienced a minor decline of 0.47% within the past 24 hours. Despite this dip, IntoTheBlock has identified a crucial resistance level at 32.68 billion coins.

Significance of 32.68 Billion Resistance

For DOGE, breaking through this resistance is paramount as it potentially influences future price movements. If the total volume surpasses 32.68 billion, it may ignite a surge in DOGE's value. If the coin overcomes the current selling pressure and breaches this threshold, its price could potentially reach $0.115 in the long run.

Conversely, a decline below this level could lead to further downturns for the meme coin. Consequently, Dogecoin's current price drop remains uncertain until it surpasses this key resistance.

Market Analysis

The "in/out of the money" indicator, which evaluates the profitability of DOGE addresses, reveals that 69.41% of coin holders are currently in a state of unprofitability. This signifies an increase in selling pressure, as evident in Dogecoin's recent performance.

However, 30.32% of addresses remain profitable, indicating holders who are less likely to sell, providing a solid support level for the meme coin. Furthermore, Dogecoin's 24-hour trading volume has decreased by 12%, suggesting the possibility of a potential reversal.

Whale Activity and Recovery

Actions by large coin holders, commonly known as "whales," have also contributed to Dogecoin's resistance and support levels. Typically, the activities of large holders carry more weight on price movements compared to retail investors.

As previously reported by U.Today, large holders recently withdrew DOGE worth $30 million from exchanges. This may indicate that these major investors are preparing for a prolonged holding period in anticipation of future price appreciation. Their actions could potentially stabilize Dogecoin's price by reducing selling pressure due to lower exchange holdings.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.