$DOGE Next Rally: Whales’ Influence and Market Sentiment - AMBCrypto Analytics
Dogecoin (DOGE) has recently been experiencing a downtrend, reflecting the broader bearish market sentiment. This decline has impacted confidence in the popular memecoin. However, recent signs suggest a potential bullish recovery.
Dogecoin started this week with brief bullish momentum, hinting at possible positive movement ahead. Despite a mostly sideways movement over the past five weeks, the Money Flow Indicator (MFI) shows substantial accumulation, recovering from a low of 20 on August 5 to 60.52 now. The RSI also indicates a positive shift, moving above its midpoint and showing no strong sell pressure.
These indicators suggest that DOGE bulls are gradually building momentum. If this trend continues, Dogecoin could be setting the stage for a significant rally, driven by accumulating investor interest and potential whale activity.
