DeXe has experienced a 9.85% decline to $32 amid increased whale selling pressure, marking a significant escalation from the previous 13% correction that occurred over the past 24 hours. According to AMBCrypto analysis, the token has gained 45% in the past seven days alone and more than 1,000% across the past 180 days, reaching a record high of $49.43 on July 13 before correcting to current levels near $44.14. The latest data shows this sell-off is more aggressive than the previous pullback, with volume jumping 58% to $158 million suggesting intense selling pressure from large holders.
Interestingly, after DEXE began declining, whales re-entered the market with significant activity patterns emerging. Spot Average Order Size data from CryptoQuant showed Big Whale Orders for three consecutive days, suggesting increased market participation from the cohort. However, the Spot Taker CVD metric has remained red for five consecutive days, indicating that more sell orders have recently been executed on the spot market. According to CoinGlass data, $33.1 million in DEXE has entered exchanges over the last three days while $26.27 million has left, resulting in a net flow of $6.8 million. This sustained period of positive net flow suggests that sellers are more incentivized to exit the market, with whales likely closing their positions aggressively.
DeXe's chart structure reveals two telling doji candles that expose a standoff between buyers and sellers, with the latest data showing the Stochastic Momentum Index (SMI) crashed into oversold territory, falling from 77 to 27. The Relative Strength Index (RSI) formed a bearish crossover, falling from 70 to 58, indicating that although buyers remain active, sellers managed to retake the market. The token currently sits at demand zone 1, which offers the first line of support, with a sufficient bounce there potentially sending price upward to clear overhead liquidity. Demand zone 2 stands ready to cushion price if selling pressure continues, though volume data supports the more likely scenario of demand zone 1 holding.
The current market conditions suggest DeXe could face further downside pressure, with a sustained period of positive net flow often preceding extended market weakness. If investors, especially whales, continue offloading, DEXE could drop below $30, according to AMBCrypto analysis. However, if the market manages to hold between $37 and $40, this bearish outlook will be invalidated. The upgrade that triggered the initial rally, the Dexelization AI integration that embeds specialized AI agents into the protocol infrastructure, may have lost its momentum as market buzz faded after the altcoin reached ATH. The AI integration was designed to enable AI and users to collaborate in operation and management, but the market's reaction suggests the initial excitement has subsided.
