Dogecoin Drama: Will It Hold or Fold? 🤔💸

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  • DOGE is feeling the heat as short to mid-term holders throw in the towel. Classic! 🙄
  • 400 million DOGE flowing into Binance? Sounds like a confidence crisis to me! 💔

So, about 400 million DOGE just waltzed into Binance like it owns the place, as Dogecoin [DOGE] tumbles back to its $0.17 support level. And let’s not forget, it’s still nursing a 31% hangover from its May highs. Smart money? More like smarting money trying to break even! 😂

Now, the million-dollar question: Are they ready to bail, or will FOMO keep them glued to their screens? 🤷‍♂️

That’s probably what’ll decide if DOGE can cling to $0.17 or if it’s headed for the basement. Spoiler alert: it’s not looking good! 😬

Same old story, different day – DOGE hits the sell wall

A little digging into the on-chain data shows that 30% of DOGE addresses are now holding onto losses like they’re holding onto a bad relationship. Acquisition prices? Above the current spot of $0.18. Ouch! 😳

And here’s the kicker: since DOGE broke below the $0.20 support, HODLers have started capitulating faster than you can say “to the moon.” Over $800 million in realized losses in just three days? That’s a lot of tears! 😢

This wave of losses coincided with DOGE’s drop to $0.1680, which is just a fancy way of saying sell pressure is rising. 📉

The 400 million inflow into Binance just reinforces the idea that holders are gearing up to sell into whatever strength is left—if there’s any! 😅

But hey, it’s not the diamond hands sweating it out. Nope, it’s the short to mid-term holders feeling the squeeze. Classic case of “buy low, sell the pump,” right? They’ve steered DOGE right back into the speculative cycle, leaving a bunch of addresses underwater. 🏊‍♂️

Short-term distribution squeezing profits like a lemon

As Dogecoin flirted with the $0.25 resistance level, the Short-Term Holder NUPL flipped negative. That’s code for “full capitulation phase.” Yikes! 😱

This capitulation has cranked up the downside pressure, forcing DOGE below the critical $0.20 support level. It’s like watching a slow-motion train wreck—profit margins are getting squished, and holder conviction is evaporating. 💨

And guess what? The HODL Waves are backing this up too. The 3–6 month cohort’s share of Dogecoin supply surged from 10% in March to 15.53% at the peak. But right on cue, they started trimming their bags, locking in profits, or just trying to get out near breakeven. Their share has since dropped to 12.4%—a clear sign of distribution pressure kicking in. 🥴

In short, as short-term holders wave the white flag, the wider DOGE crowd is being forced to face those losses. Unless Dogecoin breaks free from this bubble, pushing past $0.25 is going to be tougher than finding a parking spot in New York. That leaves the $0.17 support hanging by a thread! 😬

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2025-06-07 22:17