Some interesting moves are showing up in Dogecoin. Yesterday, I saw that Dogecoin’s price was trying to break out of a triangle pattern on the 12-hour chart, but it immediately pulled back. It was a false breakout.

In the meantime, Whale Alert reported that someone withdrew 2.56 billion DOGE tokens from Robinhood, totaling ($295 million in value. This usually indicates that large investors are depositing, which often signals a potential price surge. But Dogecoin’s price isn’t showing strength.

From a technical perspective, if it breaks below the $0.088 support, the bears will gain control. If it holds, there could be another attempt to move higher. But what’s surprising is that spot Dogecoin ETF inflows have been very weak. Institutional investors are showing less interest in it compared to Bitcoin and Ethereum.

So basically, big players are depositing, but there’s no institutional backing. That could be why Dogecoin’s price isn’t gaining any solid momentum. It’s currently hovering around $0.10.