Why did large holders buy 480 million DOGE but the price didn't rise? There is only one truth!
Data shows that in the past two days, addresses have cumulatively bought about 480 million DOGE, corresponding to a capital amount exceeding 70 million US dollars. However, the price only briefly touched around 0.153 before continuously retreating, indicating weak market willingness to follow the trend, and selling pressure remains evident. Relying solely on individual large holders' purchases is insufficient to reverse overall sentiment.
From a technical perspective, DOGE's short-term momentum is weak, and the price has fallen below key moving averages. The upper resistance can first be observed around 0.152, with significant resistance at around 0.155. The lower level to watch is 0.148; if this level is lost, it may further decline to the 0.143-0.140 area.
I believe that the overall trend has not yet turned bullish, and the price is more likely to continue testing support downwards. It is crucial to see whether it can stabilize above 0.148 in the short term.
In terms of operations, I suggest not to enter at the current price level. If considering a layout, one should patiently wait for the price to approach the 0.143-0.140 range before considering a gradual light position test. If you already hold a position, you may consider partially reducing your holdings if it rebounds to around 0.152. Regardless of the operation, it is necessary to set stop-losses in advance and control the position.
Overall, large purchases are worth noting, but they are insufficient to constitute an immediate bullish reason. Before the market shows clear stabilization and volume signals, maintaining a wait-and-see approach is the more prudent strategy.
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