Dogecoin eked out a 3.02% gain in the last 24 hours, sitting at $0.090. The quiet rise hides a sharper conflict: wallets holding between 1 million and 100 million DOGE have sold a combined 280 million tokens since Friday.
Large holders step back
The selling follows a 34% rally last week that pushed Dogecoin to its current level. But the buying pressure that fueled that climb is fading. Spot Dogecoin ETFs pulled in just $146,020 on Monday, down from $653,420 the week before. That's a thin trickle compared to the wave of tokens being offloaded.
The long-to-short ratio sits at 0.93, near a one-month low. That means more traders are betting against the token than with it. The price hasn't broken down yet, but the positioning suggests traders see a pullback coming.
Overbought and stretched
DOGE is trading above both its 50-day exponential moving average near $0.076 and its 100-day EMA near $0.081. But the relative strength index is around 77, deep in overbought territory. That's a classic warning sign, though it doesn't say when the drop arrives.
Immediate support is at $0.088. If that floor fails, there's no clear level beneath it until the moving averages come into play. On the upside, a break above $0.094 could open a run toward $0.10–$0.104.
Another Dogecoin's presale
While the main token wrestles with its own momentum, a newer project called Maxi Doge is pulling in cash. Its presale has raised $4,848,993 with tokens priced at $0.0002835. Maxi Doge offers dynamic APY staking, holder-only trading competitions, and a Maxi Fund treasury.
The presale number keeps ticking up even as Dogecoin's big holders retreat. Whether that money shifts into DOGE or stays parked in the presale is another question.
The immediate test is simple: can DOGE hold $0.088? If it does, the overbought signal may just mean a sideways drift. If it doesn't, the rally that started last week could unwind just as quickly as it began.
