Whale Exercise: Dogecoin Transferred to Robinhood Platform

• A whale despatched 150 million Dogecoin to the alternate as the worth fell to $0.17.
• DOGE dropped under the 20 EMA, suggesting a decline to $0.14
• A purchase sign appeared at $0.15 and the Open Curiosity indicated a doable bounce.

In response to Whale Alert, 150 million Dogecoin (DOGE) value $26.44 million, was transferred from an unknown pockets to Robinhood on March 12.

Though Coin Version couldn’t affirm if the 150 million cash had been bought, the deposit to the alternate recommended that liquidation was the intention.

Promoting that quantity of Dogecoin might be worthwhile contemplating how the coin has carried out over the previous few weeks. At press time, DOGE modified arms at $0.17, representing a 109.93% hike within the final 30 days. Nevertheless, the memecoin’s bullish momentum has slowed down within the final 24 hours as the worth traded sideways.

From the 4-hour DOGE/USD chart, the crimson candlesticks indicated that some merchants had booked earnings. Moreover, the Relative Power Index (RSI) was near falling under the 50.00 midpoint.

If that is so, DOGE’s bearish momentum might be confirmed and the worth may slide additional. Coin Version additionally regarded on the Exponential Transferring Common (EMA).

DOGE Worth Evaluation

At press time, the 20 EMA (blue) was at $0.17 whereas the 50 EMA (yellow) was at $0.16. Though the 20 EMA had crossed over the 50 EMA, the standing of the indications alongside the worth confirmed that Dogecoin might drop.

A detailed examination of the charts confirmed that the worth had slipped under the 9 EMA, indicating a weak bullish development. If DOGE drops under the 20 EMA, then the bearish thesis might be validated.

A extremely bearish state of affairs might see DOGE decline as little as $0.14. Nevertheless, the Supertrend indicator confirmed a promote sign at $0.19. But when the worth falls to $0.15, it might be a very good entry for short-term merchants because the indicator flashed a purchase sign there.

By way of the Open Curiosity, Coinglass information confirmed that the metric declined by 1.82% within the final 24 hours. The decline within the Open Curiosity suggests a lower in internet positioning.

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