Dogecoin 'Key Support' At Level Where 28 Billion DOGE Changed Hands, Says Analyst: What It Means For The Popular Memecoin

Group 1 - Dogecoin (DOGE) has experienced a decline of over 4% in the last 24 hours, reflecting a broader downturn in the cryptocurrency market [2] - The trading volume for DOGE surged by 47% to $1.42 billion, indicating significant selling pressure [2] - Over $5.60 million in long positions for DOGE were liquidated within the same timeframe, with open interest in DOGE futures decreasing by 4.34% [2] Group 2 - Key historical support level for DOGE is identified at $0.074, where over 28 billion tokens were traded [3] - A drop to the $0.074 level would represent a 41% decrease from DOGE's current value [3] - The last time DOGE traded around this price was in February 2024 [3] Group 3 - The Moving Average Convergence Divergence (MACD) indicator has signaled a "Sell" for DOGE [4] - The Bull Bear Power indicator shows a "Neutral" reading, while the Relative Strength Index is just above oversold territory [4] Group 4 - As of the latest data, DOGE is trading at $0.1261, reflecting a 4.35% decrease in the last 24 hours [5]