Did Dogecoin traders cash out after a 26 increase in October

Coin World News Report:
Within 24 hours after the rebound showed signs of exhaustion, the influx of DOGE into exchanges increased by 38%.
Within six days, whales also became inactive after the large trading volume dropped from 17 billion to 9 billion.
DOGE (Dogecoin)
After a surge in retail interest, the stock has risen 26% in the past 30 days. These gains pushed DOGE to a four-month high of $0.149 earlier this week.
However, at the time of writing, DOGE has partially retraced its gains and closed at $0.137;
One of the factors that may have contributed to this decline is an increase in profit-taking activity. Profitable wallets for Dogecoin suddenly surged after the recent rally.
According to IntoTheBlock, as of the time of writing, 78% of DOGE holders (about 5 million addresses) were profitable, while 18% suffered losses.
However, in terms of profitability, active addresses suddenly decreased. These addresses decreased from 10,890 to 8,130, a decrease of 11%.
At the same time, the number of active wallets in a loss state increased by about 2%.
When the profitability of these wallet addresses declines, traders are bound to start taking profits. This profit-taking activity may weaken the upward trend of Dogecoin.
Looking at the inflow data, the deposits of DOGE into exchanges have surged. These inflows reached 372 million coins, an increase of about 38% compared to the previous day.
If this influx of funds continues, Dogecoin may experience a reversal in its bearish trend.
Whale activity for Dogecoin:
The activity of Dogecoin whales has significantly declined this week. After a period of accumulation, large DOGE addresses appear to have exited due to uncertainty.
In the past six days, large DOGE transactions exceeding $100,000 dropped from 17 billion to 9 billion.
This sharp decline indicates a lack of interest from whales after the rebound began to show signs of exhaustion.
Considering that whales control a significant portion of Dogecoin’s supply, their inactivity may suppress volatility and lead to price consolidation.
Read:
Dogecoin (DOGE) Price Prediction: 2024-2025
Liquidation zone may push DOGE lower;
Examining the liquidation heat map for Dogecoin, there is a hot liquidation zone between the current price of $0.135 and $0.136. These zones often act as magnets that can push the price down.
If Dogecoin continues to decline and the price falls to this level, it may result in additional selling pressure as bullish traders rush to sell to close their positions.