Do DOGE whales know something? A post says large holders bought another 130 million DOGE in two days, and a trader says DOGE has broken out of its downtrend. The daily chart shows something e
Do DOGE whales know something? A post says large holders bought another 130 million DOGE in two days, and a trader says DOGE has broken out of its downtrend. The daily chart shows something else.
In this Dogecoin Price Prediction, the Dogecoin price today is $0.07165 after a 7.7% drop on November 5, and longs took about 87% of the $12.38M liquidated in 24 hours.
The dogecoin price today is down 6.64% to $0.07165 in 24 hours, closely tracking a broad crypto market sell-off. The move was primarily driven by a sharp drop in Bitcoin, which fell over 5% as a tech stock slump and concerns over AI sector risks triggered over $1 billion in leveraged position liquidations across the market.
Primary reason: Beta-driven sell-off following Bitcoin's decline amid a broader tech/AI risk repricing.
Secondary reasons: Amplifying liquidations of leveraged long positions across crypto derivatives.
Dogegod posted that Dogecoin whales have acquired another 130 million DOGE in just 2 days, equivalent to $10 million. Whale accumulation means large holders keep buying, and their trades can move the market.
At today's price, 130 million DOGE is about $9.3M. The post's $10M works out to about $0.0769 per coin, near the price before yesterday's drop.
Source: Data From X
It names no wallets or data source, so CoinGabbar could not verify it.
Sweep posted on X about that DOGE has broken out of its downtrend. He adds that an RSI breakout has happened, MACD has crossed bullish, and this looks good for a rally.
RSI is a momentum gauge from 0 to 100. MACD is an indicator built from two moving averages, and a bullish cross is when its faster reading rises above its slower one. His charts were not shown, so both signals are unverified.
The downtrend claim does not match our daily chart.
Dogegod posted that Dogecoin whales bought another 130 million DOGE in two days. That is about $9.3M at today’s price. The post names no wallets or data source, so CoinGabbar could not verify it, and it does not say why they bought.
The timing may be a dip purchase. $DOGE fell about 7.7% on November 5, and longs made up about 87% of the $12.38M liquidated over 24 hours.
Large holders sometimes buy after forced selling, since prices can be lower. Others may be buying for different reasons, and a purchase does not mean the price will rise. For now, $DOGE still sits inside its falling channel, and $0.07010 is the level to watch.
A liquidation is a forced close of a leveraged trade when the trader can no longer cover losses. Longs bet on a rise, and shorts bet on a fall.
Window
Total Liquidated
Long
Short
1h
$23.99K
$18.99K
$5.00K
4h
$56.54K
$51.53K
$5.00K
12h
$2.89M
$2.76M
$127.21K
24h
$12.38M
$10.73M
$1.65M
Source: Data From CoinGlass
Long liquidations were about 87% of the $12.38M total over 24 hours, which fits a sharp drop. About 77% of the total came before the last 12 hours. In the last 12 hours, longs took about 95% of $2.89M.
$DOGE peaked near $0.10 on September 22. It has since moved inside a falling channel, a pair of downward-sloping boundaries that hold price in a range, a common Dogecoin technical analysis pattern.
Yesterday's candle fell about 7.7%, from near $0.07708 to $0.07118. It dropped through the channel's dashed middle, and its wick reached about $0.07010. Today's small green candle opened at $0.07118 and printed $0.07165.
$DOGE has not left the channel and sits well below its upper boundary.
Our November 5 bear case, a close below $0.07638, happened.
Type
Level
Highest marked level
$0.10007
Resistance 3
$0.08821
Resistance 2
$0.08196
Resistance 1
$0.07638
Immediate support
$0.07010
Lowest marked level
$0.06007
Bull case: A daily close above $0.07638, about 6.6% higher, would put $0.08196 in view, about 14% above today's price.
Bear case: If $DOGE closes below $0.07010, about 2% lower, the price could slide toward $0.06007, about 16% lower.
Scenario
Trigger
Likely Outcome
Invalidation
Bull
Close above $0.07638
Move toward $0.08196
Close back below $0.07638
Base
Range of $0.07010 to $0.07638
Sideways inside the channel
Break of either level
Bear
Close below $0.07010
Slide toward $0.06007
Close back above $0.07010
It would take a gain of about 40% from $0.07165. Any DOGE price forecast toward that level needs $DOGE to leave the channel and clear $0.07638, $0.08196 and $0.08821 first.
Will Dogecoin recover? Whale buying and a breakout claim sound bullish, but the chart shows a fall, not a breakout.
The level to watch is $0.07010. A daily close below it would open $0.06007, while a close above $0.07638 would be the first sign of recovery.
This article is for informational purposes only and isn't financial advice. Crypto markets are volatile. Always do your own research before making any trading decisions involving DOGE.
