Dogecoin saw substantial outflow from exchanges, which could be only positive sign for asset around
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Volume analysis shows that the price decline is accompanied by an increase in trading activity. When there is a drop in price and an increase in volume, panic selling is usually indicated. On the other hand, DOGE may be approaching oversold territory given that the RSI is currently at about 35.This may indicate that there will soon be less pressure to sell. The $30 million DOGE outflow from exchanges is a noteworthy indicator of whale activity.
Withdrawals and the move toward self-custody might mean that Dogecoin's worst days are behind us. The price of DOGE may stabilize as a result of less selling pressure brought on by lower exchange holdings. A gradual recovery for DOGE may occur if the current support levels hold.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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