Dogecoin Encounters $0.20 Resistance Amidst 11.72B Accumulation

DOGE ETF Inflows and Network Activity: On December 3, DOGE ETFs saw inflows of $177K, contributing to a total of $2.85 million since launch, while network participation increased to 71,589 active addresses, the highest since September.

Price Resistance and Accumulation: Dogecoin faces significant resistance at $0.20, where 11.72 billion tokens have been accumulated, with current trading at $0.1435 indicating potential selling pressure as it approaches this resistance level.

Technical Indicators and Market Sentiment: Technical analysis shows weak momentum for DOGE, with the price remaining below key levels; the Relative Strength Index (RSI) is neutral, suggesting consolidation unless a breakout occurs above $0.1500.

Cautious Institutional Sentiment: Despite rising network activity, there were no new inflows recorded on December 4, indicating a cautious sentiment among institutional investors regarding Dogecoin's price movements.