 
 
Dogecoin (DOGE) is facing a critical juncture as long-term holders adjust their positions, hinting at a shift in market sentiment. On-chain data reveals experienced hodlers are moving assets cautiously, signaling potential profit-taking.
Blockchain analytics firm Glassnode reports a sharp shift in Dogecoin sentiment as long-term holders adjust positions.
On October 31, the Hodler Net Position Change (HNPC) turned negative for the first time in weeks, with 8.2 million DOGE entering wallets versus 22 million DOGE exiting, representing a 36% behavioral reversal that signaled notable profit-taking and caution among experienced investors.
Therefore, the HNPC reveals seasoned investor sentiment in DOGE. Positive readings signal accumulation and confidence, while negative shifts indicate profit-taking or reduced exposure. The recent reversal suggests long-term holders are selling after consolidation, hinting at potential short-term volatility.
Dogecoin Battles Key Support as Market Awaits Catalyst
Dogecoin (DOGE) is testing a key support level of $0.18, with weak momentum and a price of $0.1655, highlighting uncertainty for traders and investors, according to crypto analyst Amina Chattha.
 
Notably, DOGE’s $0.18 level has long served as a key psychological and technical support, drawing buyers near this zone. Yet, with momentum muted, the market remains in a holding pattern, awaiting a catalyst to spark the next move.
According to Chattha, holding DOGE above $0.18 could spark a short-term bounce toward $0.195–$0.205, offering traders a brief profit window; however, weak market momentum warrants caution.
If DOGE falls below $0.175, downside risks could accelerate, giving sellers the upper hand and testing lower support levels. Price action in the coming days will be pivotal in determining whether the token stabilizes or succumbs to bearish pressure.
What does this mean? Well, Dogecoin is teetering at a critical support level, with its next move poised to determine whether a potential near-term rebound or continued downside pressure will ensue.
Meanwhile, Dogecoin recently saw a $2B volume surge, fueling bullish hopes even as whales offload 500M DOGE.
Source: https://zycrypto.com/despite-long-term-holder-exodus-dogecoin-shows-signs-of-life-at-0-18/