🚨 Profit-Taking Alert: Will Rich $DOGE
Holders Stall the Rally?
Dogecoin has surged past the key $0.2000 level, fueled by strong retail demand and futures market activity. But with 86 billion DOGE now in profit, will large holders start cashing out?
🔹 Price Action:
DOGE is currently trading at $0.2060, holding above both the $0.2000 psychological level and the 200-day EMA ($0.2027) — a bullish technical signal.
🔹 On-Chain Pressure Building:
According to Glassnode, around 86 billion DOGE is now in profit. Historically, such levels lead to increased sell-side pressure, as investors tend to lock in gains.
🔹 Recent Price History:
Dogecoin rallied from $0.1302 in April to $0.2597 in May, before correcting to $0.1429 in June. The current rebound has brought DOGE back into bullish territory — but risks remain.
🔹 Exchange Activity & Futures Surge:
DOGE balance on exchanges has climbed to 23.5 billion, a signal that whales may be preparing to offload. Meanwhile, Open Interest in DOGE futures has jumped from $1.64B in June to $2.67B, showing growing speculative appetite.
🔹 What to Watch:
A strong close above the 200-day EMA could open doors to $0.3000. But if DOGE dips below that level, we may revisit support at $0.1429.
📊 MFI shows bullish inflows, but with so much DOGE in profit, caution is warranted. Bulls must defend key levels to maintain momentum.
📌 Stay Sharp: Dogecoin’s rally is exciting, but rising profit supply could shift sentiment fast. Watch price zones and on-chain data closely.