Is a Dogecoin Bear Trap Brewing? Whale Activity Sparks Concern

Analysis of Dogecoin’s recent price action reveals conflicting signals. While the asset flirted with a new all-time high, whales have been aggressively selling their holdings, raising questions about a potential bear trap for retail investors. The mid-term trendline on the daily chart is crucial for Dogecoin’s future direction. A breakout above this line suggests further upside, but failure to do so could trigger a decline towards $0.13 and below. Meanwhile, recent whale distribution indicates possible bearish sentiment despite rising prices. While some whales are unloading their holdings, demand remains strong.