Canadian crypto company, Neptune Digital Assets, announced that it purchased 1 million Dogecoin (DOGE) in December through a strategic derivative trade. However, this news has had a minimal impact on DOGE's price, which has only seen a 1% increase in the past 24 hours. The trading volumes for DOGE have also decreased significantly, suggesting weak buying pressure. Additionally, DOGE's Chaikin Money Flow (CMF) indicator reflects poor demand, with selling pressure outweighing buying pressure. The coin has been trading below a descending trend line since January 18, indicating a bearish trend. If demand continues to weaken, DOGE's price could drop to $0.24, but a resurgence in demand could drive the price towards $0.32.



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