Market
Dogecoin Major Metrics Fire Bullish Signals, Can Price Cross $0.5

Dogecoin has shown a remarkable recovery over the past five days after a significant downturn triggered by a broader market sell-off. During the first five days of August, the cryptocurrency experienced a sharp decline, plummeting by 38%, dropping from $0.1348 to a low of $0.0831. However, DOGE has demonstrated resilience in the face of these challenges. After hitting the $0.0831 mark, the cryptocurrency began to stage a notable comeback.
Over the last five days, DOGE has rebounded by approximately 25%, a recovery that has lifted its price significantly from its recent lows. Although this upward movement has not yet been sufficient for holders to fully recoup the losses incurred earlier in the month, it shows the return of positive momentum for DOGE.
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This partial price recovery has been accompanied by a resurgence in key market metrics, suggesting that investor sentiment towards Dogecoin is beginning to turn bullish once again. Trading volumes have increased, indicating renewed interest and participation in the market.
Dogecoin Major Metrics Fire Bullish Signals
According to data from IntoTheBlock, this recovery has been accompanied by a surge in daily trading volume, with majority of them being accumulations which have increased the buying pressure. At the time of writing, the volume of large transactions for DOGE in USD stands at an impressive $1.01 billion. This represents a substantial 54% increase from the seven-day low of $654.96 million recorded on August 3, right before it kickstarted its sharp decline.
Interestingly, the large transaction trading volume reached a peak of $1.52 billion on August 5, coinciding with when the recovery began. This correlation strongly suggests that large holders, often referred to as “whales,” have been actively participating in the DOGE market during this recovery phase and are driving the upward momentum.
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Although the large transaction volume metric does not show whether they are accumulations or selloffs, the large holders netflow to exchange netflow ratio suggests the former is the case. This metric tracks the balance between large holder accumulation and inflows into exchanges, offering valuable insights into the behavior of both retail investors and whales. Currently, the ratio is tipping towards large holder accumulation, standing at 3.49%, compared to a negative 1.85% recorded on Monday, August 5.
Still on whale activity, IntoTheBlock’s Bulls and Bears metric suggests the scale is starting to tip to the side of the bulls. This metric tracks addresses that have either bought or sold more than 1% of the total trading volume in the last 24 hours, classifying them as bulls or bears, respectively. Over the past two days, there has been a noticeable increase in bullish activity, with 14 bulls compared to 13 bears in the most recent 24-hour period. Although the margin might be narrow, the presence of more bulls than bears indicates that buying interest is starting to outweigh selling pressure.
At the time of writing, DOGE is trading at $0.1045. A successful breakout above $0.11 could reignite retail interest, which in turn could contribute to a surge toward the well-anticipated $0.5 price level.
Featured image from iStock, chart from Tradingview.com
Market
Don’t Fall for These Common Crypto Scams

ZachXBT, a well-known blockchain investigator, recently shared two key “minimum checks” on Telegram to avoid crypto scams.
He emphasized that users must accept full financial responsibility if they take risks in these situations and added that recovering lost funds would be extremely difficult.
Evaluating a Project’s Credibility is Crucial
ZachXBT highlighted two critical scenarios: depositing funds into forked DeFi protocols on newly launched EVM chains and getting scammed by projects with few smart followers on Kaito.
“If you make either of these decisions, it is your own personal choice to risk funds, and I will NOT help you,” ZachXBT stressed.
Many newly launched DeFi protocols on EVM chains are replicas of existing ones. Their teams often do not create original code but instead, fork from established protocols. This process requires minimal technical skills yet introduces significant security risks.
A recent incident highlighted the risks in the DeFi space. The DeFi protocol SIR.trading was reportedly hacked, leading to an estimated loss of $350,000. Despite the project’s documentation promoting it as a “new DeFi protocol for safer leveraged trading,” it acknowledged the risks related to smart contract vulnerabilities.
This case illustrates how new DeFi protocols often become targets for hackers. Additionally, in late March, the DeFi lending protocol Abracadabra suffered a loss of approximately $13 million due to an exploit involving collateralized tokens.
The second situation ZachXBT warned about involves getting “rugged” (falling victim to a rug pull) by projects with few smart followers on Kaito. Kaito is an AI-powered analysis tool that measures real community interest. He advised that checking followers’ numbers and quality is a basic step to avoid falling for projects that use fake engagement or empty marketing hype.
Investor Xero agreed with ZachXBT, stating that Kaito can be a credibility assessment tool.
“Kaito has become an amazing security and reputation tool that I value over others. It can help you identify an impersonator or a new rug project fast. If a 40k+ follower project isn’t connecting with real smart followers, it’s not legit,” Investor Xero commented.
Other Emerging Crypto Scams
In addition to ZachXBT’s warnings, several new scam tactics have recently been flagged.
Investor Jerome warned about a scheme that exploits browsers’ automatic download function to trick users into downloading malicious software.
Another method involves scammers creating and sending small transactions. They would be often as little as 0.001 tokens—using fake wallet addresses that closely resemble legitimate ones. Their goal is to deceive users into copying and pasting the fraudulent address when making future transactions.
Additionally, Microsoft has identified StilachiRAT, a new remote access trojan specifically designed to target cryptocurrency wallets and login credentials.
According to a Chainalysis report, from 2021 to 2024, decentralized finance (DeFi) platforms have been the primary targets of crypto hacks.

The report explains that DeFi platforms may be more vulnerable because developers prioritize rapid growth and launch over security measures. This lack of security focus makes them prime targets for hackers.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
This Is How Dogecoin Price Reacted To Elon Musk’s Comment

Dogecoin has faced a series of setbacks recently, including a failed breakout attempt that led to a decline in its price. This downward movement was further exacerbated by a recent comment from Elon Musk, which cast doubt on Dogecoin’s future.
However, despite these challenges, the altcoin is showing some signs of recovery, largely driven by long-term holders (LTHs) who accumulate more DOGE at current low prices.
Dogecoin Is Facing Mixed Signals
Dogecoin’s Network Value to Transaction (NVT) ratio has spiked significantly, reaching a three-month high. This suggests that the network’s value does not match the number of transactions, pointing to a possible lack of investor confidence.
Elon Musk’s recent comment regarding DOGE further fueled the discourse surrounding the cryptocurrency. He clarified that the US government does not intend to use Dogecoin in any form, which led to some negative sentiment. This statement dampened expectations for the coin, although it hasn’t completely derailed its market standing.

The macro momentum of Dogecoin shows signs of stabilizing, as evidenced by the recent spike in the HODLer Net Position Change. LTHs have been actively accumulating DOGE during the recent dip, which indicates strong conviction among these holders.
This accumulation provides a level of support, potentially helping the coin recover and preventing further price declines. The increased position change suggests that LTHs are confident in the long-term viability of Dogecoin despite recent market turbulence and Musk’s controversial comment.
This continued accumulation by LTHs could lead to a floor forming under Dogecoin’s price, providing a buffer against further bearish pressures. As the market stabilizes and sentiment shifts, these holders could become a driving force that will trigger the next upward movement.

DOGE Price Stumbles, But Can It Recover?
Dogecoin is currently trading at $0.163, with the price just below the support level of $0.164. Over the last five days, the coin has experienced a 16% decline following a failed attempt to break through the $0.198 resistance level. This failure to breach key resistance levels indicates that DOGE may not experience immediate price gains without external catalysts.
Given the current market conditions, it’s likely that Dogecoin will not experience significant declines in the near future. The coin may reclaim $0.164 as support and continue consolidating just below the $0.198 resistance. However, this consolidation could persist until stronger market cues emerge to push the price higher.

The only scenario in which this bullish-neutral outlook would be invalidated is if Musk’s comment causes further damage to DOGE’s price. In that case, the meme coin could dip to $0.147, extending its recent losses. A sustained downturn would signal more negative sentiment in the market and potentially halt Dogecoin’s recovery.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Bitcoin Price Nears $80,000; Fuels Death Cross Potential

Bitcoin’s recent price action has shown some concerning signs. The crypto king has failed to break through key resistance levels, leaving it vulnerable to further declines.
As Bitcoin inches closer to testing the $80,000 support level, the potential for a Death Cross looms, increasing bearish sentiment in the market.
Bitcoin Investors Are Skeptical
Short-Term Holders (STHs), who buy at higher prices, are primarily responsible for the ongoing losses. These investors have been actively noting losses in response to Bitcoin’s volatile market conditions, reflecting the unpredictable environment that has made it difficult for new investors to navigate.
Meanwhile, Long-Term Holders (LTHs) continue to realize profits, benefiting from their extended market presence. However, the current market conditions show stagnation in new capital inflows, with LTH profits offset by STH losses. This creates weaker demand and resistance, signaling a potential slowdown in price momentum.
Maintaining bullishness in the market typically requires consistent capital inflows, but the market now seems to be lacking that crucial support. The overall sentiment reflects a neutral stance, with both profit-taking and loss-realization balancing out.

The crypto king’s macro momentum is showing additional signs of bearish pressure, particularly with the Exponential Moving Averages (EMAs). The 200-day EMA is less than 3% away from crossing the 50-day EMA, which would result in a Death Cross. This technical pattern has historically signaled significant corrections in price, marking a potential end to Bitcoin’s 18-month-long Golden Cross.
As the EMAs approach this critical point, traders and investors are closely watching for any signs of a correction. The fear of a Death Cross brings further concern to Bitcoin’s price stability. If the 50-day EMA crosses below the 200-day EMA, it could trigger more sell-offs, intensifying the bearish sentiment in the market.

Is BTC Price Primed For Further Decline?
Bitcoin is currently trading at $82,248, nearing the key psychological support level of $80,000. Despite attempts at a breakout, Bitcoin has failed to move beyond the two-month-long broadening descending wedge pattern. This pattern suggests that Bitcoin could be on the brink of further decline.
If the downward momentum persists, Bitcoin is likely to fall through the $80,000 support level and approach $76,741. This scenario would reinforce the bearish outlook, especially considering the technical indicators and the lack of strong buying support. A breakdown below these levels could signal a deeper correction, with the potential for further declines.

However, this short-term bearish thesis can be invalidated if Bitcoin’s price manages to reclaim $82,761 as support. If Bitcoin breaks through the $85,000 barrier, it could break out of the current pattern, signaling a potential reversal. A strong rally above $86,822 would suggest a resumption of the bullish trend, invalidating the bearish momentum that currently dominates the market.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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