Dogecoin ($DOGE ) has had a very strong week, but we also need to explore whether it will fall back. Recently, DOGE has indeed become very popular and investors are very enthusiastic about buying. However, after such a rapid rise, the market may need a period of rest to give investors who bought in early a chance to take profits.

Some technical indicators show that $DOGE may have risen too much and has appeared "overbought". It has broken through the key resistance level of $0.128 and may challenge the price level around $0.15 next.

Data shows that on Thursday, a large amount of funds flowed into DOGE, with an inflow of 11.7 billion coins and a total amount of $640 million. This shows that although the price has been rising, investors' willingness to buy remains strong.

However, not all large holders choose to hold DOGE for the long term. Some whales and volatile traders have begun to sell after taking profits, but their shares have been taken over by retail investors. Retail investors' holdings increased from 8.75 billion to 10.74 billion, showing their enthusiasm for DOGE.

Overall, the current situation of DOGE is that some large investors have withdrawn after taking profits, but the purchasing power of retail investors is strong and has been supporting the price of $DOGE . If large investors stop buying, DOGE may lose its momentum to rise. However, these observations also show that the confidence of DOGE holders is increasing as we enter the fourth quarter of 2024.