Dogecoin Price Prediction as Large Holders Transfer DOGE to Robinhood Exchange Amid Wells Notice – Are They About to Sell?

cryptonews.com:

The Dogecoin price has dipped by 2.5% in the past 24 hours, falling to $0.158 as the crypto market as a whole loses 2% today.

DOGE remains up by 14% in the past week, although the ever-popular meme coin has dropped 18% in a month.

Today’s action also comes as a whale sends $60 million in DOGE to Robinhood, which has received a Wells notice – a warning of potential incoming legal action – from the SEC in the past 24 hours.

This could potentially mean that the Dogecoin price may fall a little further in the next few days, although its medium- and long-term prospects continue to look good.

DOGE’s chart continues to look promising, even if it has wobbled in the past day or so.

Most notably, its 30-day average (orange) remains comfortably above its 200-day (blue) and has actually begun rising again after a slight fall, suggesting potential rises.

On top of this, DOGE’s relative strength index (purple) has returned to 50 today after sinking below 40 yesterday.

This suggests a potential recovery, and given that the coin’s support level (green) has risen healthily since the end of last week, a rebound could certainly happen soon.