Dogecoin: Can DOGE breakout despite $700M whale sell-off?

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Key Takeaways

So, how are traders dealing with this mess?

Well, while the mid-tier whales were hoarding 4.72 billion DOGE like it’s Black Friday, the big fish were busy unloading $700 million worth of memecoins. Classic move, right?

Did DOGE price react to all this drama?

Dogecoin was like, “Hold my beer.” It stayed strong in the long run, despite a short-term outlook that looked like it had just come out of a bad breakup. 🥴

At the time of writing, Dogecoin was hovering under the $0.20 mark. But hey, it did manage to increase by a teeny-tiny 2.4% in the last 24 hours, which is like finding a dollar in your pocket. Still, the trading volume hit $2.07 billion-26% higher than usual. Some people clearly have faith in this meme coin. 🐕💰

Even though mid-tier and big whales aren’t exactly singing Kumbaya together, analysts are keeping their rose-tinted glasses on, predicting that DOGE could eventually moon to the sweet, sweet $0.70. Fingers crossed! 🤞

DOGE Mid-Tier Whales vs. Big Whales: The Battle of the Titans

Here’s the deal: Big whales, who’ve been holding over 1 billion DOGE, have been cashing out left and right. According to BeLaunch data, about $700 million left Dogecoin’s market cap, probably to go buy themselves some luxury yachts. This is why DOGE is still stuck under $0.20. 🛥️

Meanwhile, mid-tier whales were out there buying DOGE like it was the last slice of pizza at a party. Around 4.72 billion DOGE were scooped up by wallets with between 100 million and 1 billion tokens. Clearly, they see something the big guys don’t. 🍕

What will this all mean for the price? Who knows. But one thing’s for sure, this tug-of-war is not over yet. 🐳🤼‍♂️

Analyzing Short- and Long-Term Targets: The Crystal Ball

Analyst Javon Marks is feeling optimistic. He says that as long as the higher lows stay intact, Dogecoin could reach its all-time high (ATH) of $0.73. If that happens, you’d be looking at a juicy 430% increase from the current $0.17. Talk about a bargain. 💸

But wait, there’s more. Dogecoin’s RSI (Relative Strength Index, for those of you who like to sound smart at parties) is showing a bullish divergence. Translation? The price is declining, but the RSI is like, “I’m feeling good, fam.” This could mean a bubble is coming, just like it did after November 5th. 🎈

Short-term, things are murkier. Analysts say DOGE might hit $0.21 first, then possibly $0.25. But, if it can’t break through $0.21, the whole thing could fall apart faster than a house of cards in a windstorm. 🏚️

According to the Bull Bear Power (BBP) index, buyers are slowly stepping up to the plate, but their swing is kind of weak. On the flip side, bears are still in control, like the party poopers they are. 🐻

In other words, if DOGE can’t break above $0.21 soon, it’s back to the doghouse for this memecoin. 🐾

Conditions for a Short Squeeze: Because Why Not?

If you’re into liquidity (and really, who isn’t?), there’s a juicy cluster just above the $0.17 mark. More liquidity is sitting above $0.17 than below it, which is like a perfect setup for a short squeeze. 🧑‍🔬

When the price surged to $0.175, it was like a short position stampede. If DOGE can break through the range between $0.175 and $0.185, we might just see it challenge that pesky $0.21 resistance. But hey, anything can happen. 💥

Still, don’t get too excited. A drop to $0.17 or even $0.165 is still very much on the table. I mean, it’s not like we’re in control here, right? 🤷‍♀️

Dogecoin is like that unpredictable friend who’s both fun and exhausting to deal with. It’s facing mixed sentiments, and no one really knows which way it’s headed. But long-term, it’s still got that sparkle. 🛸

The mid-tier whales could spark some short-term rallies, but don’t hold your breath. Or, do, and you’ll be just like everyone else in this wild crypto world. 💨

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2025-11-13 19:28