dogecoinAt the end of the year, due to the selling pressure, it fell below an important technical threshold in the last days of December and fell to the level of $ 0.1226. The decline, which exceeded 3 percent on a daily basis, occurred with an increase in transaction volume despite low liquidity, revealing that the movement was not a temporary fluctuation. cryptocurrency In this period when investors in the overall market turned to reduce risk, it was observed that Memecoin pricing remained on the defensive. The intensification of sales simultaneously reflected both the weakness in the spot market and the contradictory positioning in derivative transactions.
Year-End Sell-Off and Whale Breakup Increased Pressure on Dogecoin
The decline in Dogecoin was shaped by the acceleration of investors’ tendency to lighten their positions as the holiday period entered. The price fell below the $ 0.1248 level in the most intense trading range of the day and could not hold there, settling in the $ 0.122–0.123 band. Transaction volumeThe fact that the price was approximately 157 percent above the average indicated that the sales were realized with active supply, not limited orders. This picture clearly showed that the defensive power of short-term buyers has weakened.
Another factor that challenged the market dynamics was large investor movements. On-chain data shows nearly 150 million transactions from whale wallets in the last five days DOGE It shows that it has been distributed. These sales led to the constant limitation of upward attempts, although the price remained in the bottom regions. The influx of large-scale supply into the market softened the impact of reactionary purchases by small investors and contributed to maintaining the downward trend.
As the end of the year approaches, this behavior seen in cryptocurrencies with high beta features also coincides with the decrease in risk appetite on a global scale. While the weakening of liquidity during the holiday period caused sales pressure to turn into harsher price movements, it paved the way for the rapid testing of defensive areas in Dogecoin’s case.
Which Levels Are Technically Important?
From a technical perspective, the $0.1248 level was the mainstay of short-term consolidation. As this threshold was broken downwards, the price rapidly shifted to the lower demand region, confirming that the distribution process was continuing in the market. The decline leg, in which approximately 857 million units of DOGE changed hands, showed that sellers remained active in the market during each recovery attempt. Therefore, the $0.1270 band now stands out as the first strong resistance point.
Although momentum indicators produced oversold signals, these signals alone were not enough to reverse the trend. RSIWhile the level of 37 showed that the price was technically worn out, the low liquidity conditions specific to December allowed sales to continue for a longer period of time. Successive lower peaks falling channel It reveals that its structure is intact.
On the other hand, a different picture attracted attention in the derivatives market. The fact that the open position size exceeded 1.5 billion dollars again showed that futures investors maintained their desire to carry positions to 2025. spot marketWhile the weakness continues, this insistence on leveraged transactions paves the way for volatility to remain high. The reaction of Dogecoin’s price at $ 0.1226 will be decisive in determining direction in the short term. In the downside breakout, the $0.118 region will stand out as the new target.
