CandleFocus Dogecoin (DOGE) Might Be Overbought, Here's Why
2024-10-19
Author: Content Editor
Dogecoin (DOGE), the largest meme coin, is currently experiencing an uptrend due to positive market sentiment. However, on-chain analyst Ali Martinez points out technical indicators suggesting a potential price correction. The TD Sequential indicator is flashing a sell signal on the daily chart, indicating that DOGE may be overbought. This suggests a selling period may follow the current uptrend. Despite this, other market analysts, such as pseudonymous trader DonAlt, believe DOGE has the potential to reach $1. Additionally, there has been an increase in whale activity, with large investors holding around $63 million worth of DOGE. This bullish activity from whales suggests notable price movements may occur.
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