Dogecoin whale sits on a $3.87mln loss – Will DOGE’s $0.10 support survive?
Tech Dogecoin whale sits on a $3.87mln loss – Will DOGEs $0.10 support survive? Interestingly, with Dogecoin [DOGE] seeing some stability around $0.1, it seems most participants are not fully convinced of extended gains. As a result, sell-side activity on the spot market has risen substantially. In fact, the memecoin recorded increased sell volume across major exchanges over the past 24 hours. Source: Coinalyze Binance leads in selling activity, with volume hitting 524 million compared to 455 million in buying volume. This leaves the market with a negative delta of 69 million, suggesting clear seller dominance in the spot market. Furthermore, exchange activity also echoed this sell-side activity. Since DOGE reclaimed $0.1 days ago, sellers have remained active on exchanges. According to Coinglass data, the memecoin recorded $737.9 million in Spot inflows over the last five days, while Outflows dropped to $721.7 million. Source: CoinGlass As a result, the Spot Netflow has remained positive over this period. On five day timeframe, the Netflow rose to $16.17 million. On daily charts, the flow remains the same, with Netflow holding around $792k. Historically, increased sell-side activity has weakened the market, causing prices to decline if demand fails to keep pace. Can DOGE bulls repel bearishness and hold $0.1? Although sellers have shown great determination