Why Dogecoin’s Rally May Falter Amid Bearish Divergence and Dropping Whale Demand

Core Insights - Dogecoin (DOGE) has experienced a 17% price increase over the past two weeks, currently trading at $0.2605, indicating optimism in the meme coin market [1] - A bearish divergence in the Chaikin Money Flow (CMF) indicator suggests that the price rise may not be supported by strong buying activity, potentially leading to a correction [2][3] - Whale activity has decreased, with large holders reducing their supply by 1% in the past two weeks, which may signal a lack of conviction in the price movement [4][5] Price Analysis - If buying pressure continues to decline, DOGE may test the support level at $0.2574, with a potential deeper decline towards $0.2018 if this level fails [6] - Conversely, if new demand emerges, DOGE could break resistance at $0.2797, with a target price of $0.2980 [7]