The market was sideways for two days like a dead fish, and the RSI fell into the oversold area, and as a result, the on-chain data suddenly exploded: a whale swept away 480 million DOGE within 48 hours, smashing more than 70 million dollars!

This operation, you taste——

Are you really bullish? Or set off a smokescreen?

# Charts don't lie: This wave of sideways movement has a lot of articles

Pulling out the 4-hour candlestick, DOGE has been grinding in the range of 0.145 to 0.152 for two full days. The pressure level is like welding to death, and the bulls are indeed a little tired on the surface.

But you noticed no:

- The RSI has fallen into the oversold area, and the selling pressure has basically been released, and it may pull back at any time
- The lower edge of the box has been tested many times at 0.145, but it cannot be pierced, and it is obvious that there are funds guarded
- The price is stuck right around the 23-day EMA, which is a key position for the long-short tug-of-war

My opinion?

This is not to fall, this is the main force washing the market!

Break 0.145? I look at the suspense.

# On-chain data speaks: someone is quietly hoarding

The data is the most honest:

In the past two days, addresses holding positions between millions and hundreds of millions have silently increased their holdings by 480 million DOGE, accounting for nearly 6% of the 24-hour trading volume.

What concept? Big money is voting with real money.

So why didn't the price fly?

The answer is simple - they deliberately hold it down. Let retail investors feel that "there is no drama, forget it", and then take it cheaper. This routine is understood by veteran players.

# What's next?

I tend to think:

In the short term, it will first shake the bottom and test the quality of the support level of 0.145. If it holds, with RSI repair, the probability of breaking through 0.152 upwards is not small.

But if it does fall below 0.145, it will have to be re-looked at - it may really have to go below to find lower support.

However, judging from the actions of whales to increase their holdings, they obviously do not want to let the price go too far.

What do you think?