DOGE Surges 10%, Attempts Reversal as Japanese Fund Exits Position at a Loss

Japan-listed Remixpoint Inc. recently sold its Ethereum , Solana and XRP holdings and booked a tidy $742,000 in doing so.Yet, the company’s Dogecoin sales is the most noteworthy — and not for the right reasons.The company booked a $21,000 loss on its DOGE trade, making Dogecoin the only losing altcoin, while ETH, SOL and XRP delivered profits between $72,000 and $379,000.The Japanese firm said it exited its positions after reviewing market conditions and their risk-return profiles, CoinDesk reported on Thursday.Remixpoint will now focus exclusively on Bitcoin, holding roughly 1,506 BTC worth more than $115 million at Thursday’s prices.The DOGE exit is notable given its established presence in Japan, where it has traded on registered crypto exchanges since 2022.Is A Reversal Brewing?Despite Remixpoint’s exit, crypto analyst Ali Martinez says Dogecoin’s correction could be nearing an end.The Tom DeMark Sequential indicator has flashed a daily buy signal, with the chart printing a bullish reversal pattern that can indicate fading selling pressure.Whale interest in increasing as large holders accumulated more than 400 million DOGE over five days, reinforcing an important on-chain support zone around $0.0813.Around 35 billion DOGE previously changed hands around that level.The analyst sees the bullish structure remaining intact if DOGE holds support, with $0.1552 and $0.1774 emerging as potential upside targets.Image: Shutterstock