100 million Dogecoin (DOGE) unlocked, new market trends, what happened?
Next week, the grand unlocking of Dogecoin (DOGE) will kick off, becoming the market focus! From May 12 to 19, 96.52 million DOGE (approximately 22.75 million USD) will flood into the market.
Although the unlocking amount only accounts for 0.06% of the total, the market is currently volatile, and over 774 million USD worth of tokens are set to unlock this week. The impact of this wave on DOGE's short-term price should definitely not be underestimated!
DOGE has recently surged, briefly reaching 0.25 USD, but faced resistance after breaking through 0.20 USD and key moving averages.
The RSI soared to 73, entering the overbought zone, and with the unlocking imminent, selling pressure could explode at any moment! The 200-day EMA at 0.21 USD is a critical line; holding it is essential!
Two potential scenarios: strong demand withstands the unlocking selling pressure, aiming for 0.30 USD;
if it can't hold, it could collapse back to 0.20 USD, or even drop to 0.19 USD!
Although the unlocking amount is small, the market is sensitive right now, and any slight movement could disrupt sentiment. Keep a close eye on volume and price changes, and don't act recklessly!
