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Dogecoin is facing increased pressure from whales as shorts are mounting with the intention of sending the meme coin's price down further. Some whales appear to be preparing for further losses, with one increasing their buying efforts after the market fell for a while. Whale 0x9eec9 is said to have made over $31.8 million in profits on Hyperliquid and currently holds $98 million in active short positions in a variety of mainstream cryptocurrencies, including Dogecoin, Ethereum, Ripple, PEPE and Aster. Uncertainty Behind Dogecoin One of the largest is the $32 million Dogecoin short position, indicating that investors are either convinced or insiders know what is going on behind the scenes. Dogecoin’s current chart presents a sense of uncertainty. After the flash crash, the memecoin price rebounded sharply by 25%, but failed to regain the key resistance level around $0.22-$0.23, and eventually fell below the 200-day moving average again. Volatility surged after technical resistance, suggesting traders may be selling at the peak of the rally. ![]() If Dogecoin fails to hold support at $0.19, its price could fall back to $0.16, a key accumulation level ahead of the July rally. As retail investors try to buy the dip, another liquidity shock may be just what the whales are betting on. Position on the Dogecoin chain Another important entity is the whale 0x9263, which made a profit of US$13.2 million and has opened a position of US$84 million on Solana and Bitcoin, which further intensified market attention. These positions are too well coordinated to be ignored, and they represent the largest bearish allocation currently visible on the chain. Whether this is driven by high-confidence shorting in an overheated asset or a well-thought-out macro hedging, smart investors are not buying into this rally. The large holdings of Dogecoin whales may be a warning sign that the next phase of the pullback is still ongoing. When we enter the currency circle, we must seize the trend. We are not here to earn wages, but to make a fortune. Now the trend is in front of us. If you don’t seize it, if you miss this wave, you may have to wait another 2 years! In the current market environment, short-term operations are indeed necessary. If you keep waiting for spot prices to rebound, you may feel the pain of time. I have also recently been working hard on the second-level short-term and first-level local dog operations, and the results have been good. Friends who want to keep up can add me on WeChat! Welcome to private message me to join our VX: NWP0721![]() Alternate VX;knswdaqldtwl11 ![]() |