Dogecoin

<a href="https://bitcoinist.com/crypto-pundit-predicts-price-surge-for-dogecoin/#:~:text=Crypto%20Pundit%20Predicts%20Massive%20Price%20Surge%20For%20Dogecoin%20%E2%80%93%20Here's%20The%20Target&amp;text=Crypto%20analyst%20DonAlt%20has%20provided,from%20its%20current%20price%20levels." rel="nofollow">The Dogecoin (DOGE) price</a> looks at risk of further declines as on-chain data show that the <a href="https://bitcoinist.com/dogecoin-whale-dumps-substantial-holdings-on-the-market-heres-how-much/" rel="nofollow">meme coin’s largest holders</a> are securing profits. This follows DOGE’s recent price surge, which saw the crypto token rise to a <a href="https://www.newsbtc.com/news/dogecoin/dogecoin-price-breaks-new-3-year-high-here-are-factors-that-could-drive-the-price-to-1/#:~:text=An%20increase%20in%20the%20number,again%20to%20the%20crypto%20market.">new three-year high</a> of $0.22.&nbsp; 
<h2 id="dogecoin-witnesses-wave-of-profit-taking">Dogecoin Witnesses Wave Of Profit-Taking</h2> 
<a href="https://app.santiment.net/charts/iXhlYy3R__sCl" rel="nofollow">Data</a> from the <a href="https://bitcoinist.com/why-these-2-altcoins-could-witness-price-bumps/" rel="nofollow">market intelligence platform Santiment</a> shows a drop in the number of Dogecoin holders holding between 10 million and 100 million DOGE tokens. This suggests that some holders have offloaded their tokens to secure profits from DOGE’s recent price gains.&nbsp; 
This wave of profit-taking looks to have become a pattern among <a href="https://bitcoinist.com/dogecoin-bitcoin-spot-etfs/" rel="nofollow">DOGE holders</a>, as further data from Santimemt showed that these whales also instantly booked their profits just after DOGE enjoyed an upward trend earlier in March. Bitcoinist even <a href="https://bitcoinist.com/dogecoin-whale-dumps-substantial-holdings-on-the-market-heres-how-much/" rel="nofollow">reported</a> then of a Dogecoin whale that offloaded 86 million DOGE tokens on the market.&nbsp; 
Considering the magnitude of these <a href="https://bitcoinist.com/dogecoin-whales-buy-up-doge/" rel="nofollow">whales’ holdings</a>, their actions are bound to exert much selling pressure on the DOGE token. That explains why the meme coin has steadily declined since rising to as high as $0.22 last week. Interestingly, Santiment, in an X (formerly Twitter) <a href="https://x.com/santimentfeed/status/1774549276548571254?s=20" rel="nofollow">post</a>, had recently warned of an impending sell-off by these whales.&nbsp; 
The crypto analytics platform noted how major dormant whales were moving their Dogecoin holdings back into circulation, which usually suggests they are getting ready to sell. Meanwhile, members of the DOGE community <a href="https://x.com/TOPDOGE007/status/1774997216974782856?s=20" rel="nofollow">seem unfazed</a> by the recent price dip, with many of them seeing it as an opportunity to accumulate more of the meme coin. 
<h2 id="the-whales-will-soon-return">The Whales Will Soon Return&nbsp;&nbsp;</h2> 
<a href="https://bitcoinist.com/dogecoin-whale-dumps-substantial-holdings-on-the-market-heres-how-much/" rel="nofollow">Dogecoin whales</a> are expected to return and position themselves again once this wave of profit-taking by them is done. Besides taking profits, <a href="https://bitcoinist.com/dogecoin-10-largest-meme-coin/" rel="nofollow">these whales</a> also see this period as an opportunity to invest in DOGE at the market bottom and in anticipation of future price gains.&nbsp; 
Despite this recent correction, there looks to be a lot of bullish momentum on the largest meme coin by market cap, especially with analysts <a href="https://bitcoinist.com/crypto-pundit-predicts-price-surge-for-dogecoin/#:~:text=Crypto%20Pundit%20Predicts%20Massive%20Price%20Surge%20For%20Dogecoin%20%E2%80%93%20Here's%20The%20Target&amp;text=Crypto%20analyst%20DonAlt%20has%20provided,from%20its%20current%20price%20levels." rel="nofollow">predicting</a> that it could rise to $1 in this market cycle. In the short term, Dogecoin is also expected to make another run soon, with significant events coming up for the meme coin this April. 
<a href="https://bitcoinist.com/coinbase-seeks-dismissal-of-default-judgement/" rel="nofollow">The foremost US exchange, Coinbase</a>, is set to launch Dogecoin futures for its institutional clients on April 29. This move could cause new money to flow into the meme coin’s ecosystem and spark a price surge. DOGE Day is also happening on April 20, which will put the spotlight on the crypto token and possibly impact its price positively.&nbsp; 
At the time of writing, DOGE is trading at around $0.18, down over 6% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/dogecoin/" rel="nofollow">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/EZiR9JXL/" alt="Dogecoin price chart from Tradingview.com" width="3286" height="1530">

Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree

Indice dei contenuti

NewsBTC

Altri articoli pubblicati su 2 apr 2024

Is Bitcoin’s Local Top Left Behind Us? Renowned Analyst Reveals 13 BTC Metrics to Watch

IPO Alert: Thailand’s Crypto Behemoth Bitkub Sets Sights On 2025 Listing

Nexo & 35+ Crypto Giants Rally for Bitcoin Emoji, Targeting 50,000 Endorsements

14 Meme Coins: Shiba Inu; Dogecoin and More with 50x Potential

Snuggle Up with Profits: Koala Coin (KLC) ICO vs Solana (SOL) and Cardano (ADA)

Crypto Market Crash: Top 5 Altcoins To Buy This Dip

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!