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

Dogecoin (DOGE) has experienced a decline of 2.3% to $0.1827, marking a significant drop below the key support level at $0.1830. This sell-off has been driven by increased activity from large wallets and a shift among long-term holders towards liquidation. The recent price movement highlights a bearish technical landscape, especially with the formation of a 'death cross' pattern in late October, which typically indicates further downside potential. Analysts are closely watching the $0.1830-$0.1850 range as crucial resistance, with concerns that failure to maintain support at $0.177 may lead to a further decline towards the $0.14 mark. The shift in long-term holders' behavior is notable, as they offloaded 440 million DOGE within a 72-hour period. Additionally, the volume during the recent sell-off suggests that institutional distribution might be nearing a climax, raising the possibility of a future price base formation. Until a sustainable rebound above $0.1860 occurs, characterized by increased trading volume, the current bearish trend is expected to persist.

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