Following the failure of the DOGE impact of 0.09 dollars, the movement continued to hold. The price then fell over and over again during the past week, supporting US$ 0.085, down to the vicinity of US$ 0.081. At the time of the cut-off, DOGE reported an estimated US$ 0.082, falling over 3 per cent in the daytime and about 4 per cent in the week.
It's obvious.
In terms of chain and transaction data, the current push is mainly from large amounts of money. Over the past week, the average size of spot orders has continued to be positive, indicating that there has been a large-volume commissioning in the market. Every time DoGE tries to get back on the line at 0.09, especially close to 0.088, the bill increases significantly.
This means that the range of 0.088 to 0.09 dollars has become more resistant. According to the data cited in the article, the continued delivery of the whale in this price range is an important reason for the DOGE rebound.
High net exchange inflows
Exchange flows reflect a similar situation. On 19 June, DOGE recorded an inflow of approximately $23 million at 12 dimensions and an outflow of about $20 million during the same period; at 8 dimensions, an inflow of about $12 million and an outflow of about $10 million.
- 12 hours into approximately $23 million
- 12 hours out of approximately $20 million
- 8 Hours into approximately $12 million
Inflows are higher than outflows, which usually means that more coins are diverted to trading platforms and potential sales pressure increases. If this situation persists, market structures tend to be further weakened and prices are more likely to continue downward.
Active address raised to two years high.
However, weak prices do not imply the use of synchronous cooling in the chain. According to Santiago, the DOGE Day Active Addresses rose to 42,000 on June 19th, high for almost two years, and close to the high level of activity that was observed in April this year.
The increase in active addresses indicates that participation in the network remains high. Such data usually represent a chain use that is not significantly abbreviated and provides some basis for prices. If the new address continues to grow, low-level demand may help the DOGE mitigate further downward pressure.
$ 0.08 for short-term observation
The seller still dominates current trends. The trend indicators referred to in the paper indicate that downstream power is still increasing and that if the short line is not stabilized, DOGE could fall by 0.08 and continue to test the 0.07-dollar area.
However, if the chain continues to maintain its high level of activity and new participants take over at a low level, DOGE still has the opportunity to return to the vicinity of 0.09. In the short term, the support below 0.08 and resistance from 0.088 to 0.09 will be the focus of market attention.