{"5b432b8b40b1fb178b96e3b4169e084f":"The biggest meme coin is among the worst-affected cryptocurrencies from the broader market correction, with its price crashing by 17% over the past week.","2184ed49975cebd7cc7aa460138981b1":"The recent whale sell-off could have also negatively impacted Dogecoin.","003c1d0fb9fc421373640ba9dd7e4626":"Selling en Masse","0926b1f4560d66a3d7b16d596b04b924":"The renowned analyst, using the X handle Ali Martinez, revealed that large Dogecoin investors have dumped more than one billion tokens in the last week alone. The stash equals approximately $165 million (calculated at current rates). Following that move, this cohort of investors now holds less than 23 billion DOGE, representing around 15% of the asset\u2019s circulating supply.","7c2f706024e2afa5adac67b3dc38a6e5":"Efforts of that type are generally seen as bearish since they increase the amount of coins on the market, and that could be followed by a price pullback (assuming demand doesn\u2019t react accordingly). The massive sell-off may also spread panic across the community and prompt smaller players to cash out, too.","ddecf4f1ca69208245990f158729744f":"Shortly after, Martinez touched upon Dogecoin again. He said the OG meme coin has been trading within a rising channel since March, but recently broke below the bottom of that structure at $0.18. This means that DOGE has lost support and could be headed for a more violent crash, potentially dropping as low as $0.11.","651522eabdccac8ad5beafa29d42e41c":"The Bullish Scenario","fd0c43f231ed2bd8678a1fa29159afb6":"Despite the downtrend, some market observers remain optimistic that not all is lost for Dogecoin for this cycle. X user Chandler reminded that November has been a strong month for the meme coin in recent years, predicting that history might repeat itself.","3798f9d5536c1b5313c8d0b5fa243b91":"Elon Musk also infused some positivism. The world\u2019s wealthiest man (who happens to be a firm proponent of DOGE) said in 2021 that SpaceX \u201cis going to put a literal Dogecoin on the literal Moon.\u201d Several hours ago, he referred to that tweet, stating, \u201cIt\u2019s time,\u201d but also placed a laughing emoji at the end.","c0ed615aefddd894372f7ec54de13c7c":"Meanwhile, DOGE\u2019s Relative Strength Index (RSI) indicates that a rebound could be incoming. The technical analysis tool measures the speed and magnitude of recent price changes, helping traders assess potential reversal points. It ranges from 0 to 100, and ratios below 30 are interpreted as bullish, as they suggest DOGE might be oversold. Currently, the RSI hovers around that mark.","29f1236d94b6690e53a3c0e3ac195067":" DOGE RSI, Source: CryptoWaves","56aa7e270022d7f4c3c6bfc9172ee0ae":"The post 1,000,000,000 DOGE in 7 Days: Could Dogecoin\u2019s Bear Market Be Starting? appeared first on CryptoPotato."}