- Dogecoin investors withdrew over $120 million from spot exchanges since early April, indicating strong selling pressure on DOGE.
- Spot market inflows into DOGE remain minimal under $5 million, highlighting limited buying interest and reduced investor confidence.
Dogecoin investors have been steadily withdrawing their funds from spot markets since the start of April, reflecting increased selling pressure.
Data indicates a net outflow exceeding $120 million from DOGE spot exchanges over the past two weeks. At the same time, inflows were less than $5 million, according to information provided by Coinglass.
When a cryptocurrency experiences greater withdrawals than deposits, investors are either selling tokens or moving them away from trading platforms. In Dogecoin’s case, the balance of activity strongly favors sales rather than purchases. This pattern suggests weakening investor confidence.
Additionally, the lack of new investments entering Dogecoin has contributed to its recent downward momentum. Unless this changes soon, DOGE may face difficulties in sustaining its current price level or could even enter a new phase of declines.
On the technical side, Dogecoin’s Relative Strength Index (RSI) reinforces the bearish outlook. This indicator, which tracks if a token is overbought or oversold, is currently positioned at 47.61, below the neutral line of 50. Typically, readings below 50 indicate weakening price momentum.
Given this scenario, investors may remain cautious. The ongoing withdrawals signal a hesitation among traders to commit fresh capital to DOGE, potentially leaving its price range-bound or pushing it lower in coming sessions.
Dogecoin (DOGE) is currently trading at $0.1654, showing a mild 1.32% decline over the past 24 hours, but maintaining a strong recovery trajectory since bouncing from the $0.13 support zone, marking a 25% rebound from recent lows.
Despite this recovery, DOGE remains down 47.5% year-to-date, with long-term consolidation keeping the asset range-bound below the psychological $0.17 resistance level, which now serves as a short-term pivot.
From a technical standpoint, DOGE has been forming a tightening structure, with price action coiling below the key supply zone of $0.166–$0.168. A confirmed breakout above this band could trigger a sharp move toward $0.195–$0.21, which is a confluence of previous swing highs.
RSI is currently neutral, while volume shows signs of early accumulation phases. However, any failure to hold the $0.155 support region could expose DOGE to another leg down toward $0.143, where stronger historical demand sits.
Momentum remains largely sentiment-driven—especially influenced by whale activity, social engagement, and macro news. ETHNews analysts are watching for a potential “golden cross” on the 4H chart, while others warn that a rejection at $0.17 could bring a quick flush below $0.15 before a stronger rally is staged.
Exact Price Prediction: Given the current structure and buying pressure, DOGE is forecast to reach $0.178 within the next 4 days, assuming it breaks above $0.17 with follow-through volume.
