4.9 billion DOGE is about to expire! Mid-term holders have bought nearly 2 billion USD, can the decline in July be recovered?

DOGE has continued to trade sideways during the recent market fluctuations, reporting at $0.217 on August 22, still in a consolidation phase. However, on-chain data shows that 4.9 billion DOGE (approximately $1.97 billion) have been absorbed by mid-term holders over the past two weeks, with the selling pressure from long-term holders (LTH) significantly weakening, possibly paving the way for a rebound of this meme coin.

Long-term investors' selling pressure eases, market sentiment warms up

(Source: Glassnode)

According to Glassnode's HODLer Net Position Change Index:

1. The red bar (selling pressure) has almost disappeared.

2. LTH behavior shifts from sell to hold

3. The confidence in holdings has rebounded, indicating that major holders remain optimistic about the long-term prospects of DOGE.

This means that the price retracement pressure will ease in the short term, creating a more favorable environment for a Rebound.

Mid-term holders bought 4.9 billion DOGE

(Source: Glassnode)

On-chain data shows that the active DOGE supply has significantly increased in the past 3-6 months:

In just the past two weeks, mid-term investors have increased their holdings by 4.9 billion DOGE.

Calculated at the current price, worth over 1.97 billion USD.

Such investors typically take profits when the market rebounds, indicating that they are betting on future price increases.

Technical Analysis: $0.20 is the Rebound Lifeline

(Source: Trading View)

Current price: 0.217 USD

Key support: $0.20

Short-term resistance: 0.241 USD

Rebound target: After breaking through 0.241 USD, it is expected to attack 0.273 USD, recovering the decline in July.

Bullish Scenario:

Hold the support at $0.20

Break through 0.241 USD and turn into support

Breaking through 0.273 USD, attracting more funds to enter.

Bearish Scenario:

Break below 0.20 USD → Rebound to 0.199 USD or even lower

Bullish structure fails, continuing the recent downtrend.

Investor Strategy Recommendations

Day traders: Focus on the breakout opportunity at $0.241 and set a stop loss at $0.20.

Medium to long-term holders: Continuously observe the on-chain dynamics of LTH and medium-term holders to confirm the trend of capital inflow.

Risk Control: If it falls below 0.20 USD, position adjustment is required.

Conclusion

The expiration of 4.9 billion DOGE and the large-scale accumulation by mid-term holders has provided potential momentum for a rebound in DOGE. In the coming weeks, the support level of $0.20 will be crucial in determining whether DOGE can reverse the decline from July. If it breaks through the resistance at $0.241, DOGE may enter a new round of upward movement, targeting $0.273.