Dogecoin Volume Spike To $2 Billion Might Be Bearish, Here’s Why

Dogecoin (DOGE) is experiencing heightened turbulence as on-chain metrics reveal a $2 billion surge in trading volume and an increase in whale movements. While such explosive market activity may be misconstrued as bullish, deeper analysis suggests a more bearish atmosphere, as large holders offload their positions amid waning retail demand. With DOGE prices consolidating near critical levels after its recent breakdown, analysts warn of an impending continuation of the downtrend as key supports fail to hold. Dogecoin $2 Billion Volume Surge Raises Red Flags On-chain data from TradingView has revealed a significant surge in Dogecoin’s trading activity, with volume climbing as high as 62% and exceeding $2 billion on Tuesday, November 3 source: https://www.newsbtc.com/news/dogecoin/dogecoin-volume-spikes/