Recently, the Dogecoin (DOGE) market has been quite active:

Whales have started buying up, purchasing 150 million DOGE all at once, worth approximately 43 million USD. At this time, the DOGE price is fluctuating around the key support level of 0.185 USD, which means it has temporarily stopped falling at this level. The whales seem to be bottom-fishing, possibly thinking, "It has dropped enough; time to stock up."

Price Drops but Trading Volume Rises

DOGE is now at 0.19 USD, down 8% in the last 24 hours, but trading volume has actually increased by 50%. This indicates that some people are selling quickly out of fear of further drops, while another group feels that the price is low and starts buying, showing a significant market divergence.

Technical Analysis: Key Levels in the Short Term

Support Level 0.185 USD: If it falls below this, it may continue to decline;

Resistance Level 0.21 USD: If it can push above this and hold, it may rise by 20% to 0.25 USD in the short term.

However, the current RSI (Relative Strength Index) is only 35, indicating that the market lacks momentum and may still need to stagnate in the short term.

Massive Outflows from Exchanges

In the last 48 hours, 43 million USD worth of DOGE has been withdrawn from exchanges. Combined with the ongoing outflows since February, this suggests that large holders and long-term players may believe that "the price is right; let's hold and wait for it to rise," which reduces selling pressure and is good for the price.

Summary:

In the short term, DOGE may continue to fluctuate with the overall market, or even drop further (after all, the RSI is too weak). However, if large holders continue to accumulate coins and market sentiment improves, there may still be opportunities for a rebound. Nevertheless, the cryptocurrency market is highly volatile, especially meme coins are more exciting, so don't just pay attention to whale actions; assess your own risks!