DOGE Price Analysis: Falls to $0.18 as 'Death Cross' Price Action Appears

Dogecoin experienced a significant decline, falling by 2.3% to $0.1827 and breaking through crucial support levels. This downturn coincided with increased selling activity from large wallet holders, indicating a shift from long-term accumulation to liquidation. The technical indicators turned bearish, highlighted by the emergence of a 'death-cross' pattern formed between the 50-day and 200-day exponential moving averages (EMAs). Traders are watching the $0.1830-$0.1850 range closely, as a failure to maintain the $0.177 level could catalyze a drop toward $0.14. Over a recent 72-hour period, mid-tier whales offloaded approximately 440 million DOGE, and on-chain metrics reflected a notable 36% drop in accumulated positions among holders. As the market conditions remain challenging, short-term traders are treating price spikes as exit opportunities rather than signs of recovery. Looking ahead, the market will focus on the whale activity and the potential for a base to form at critical liquidity zones.

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