Dogecoin Explul-Off Alert: Whale deposits 132 million into RIGINOD as price risk
The massive transfer of doopecoin to wabowabi has also raised concerns about potential sales. This comes as the price of Doge is collapsing alongside the broader crypto market with The Rise of the Mercantile Exchange between the US and China.
132 million Dogecoin moved to the price risk
Whale awareness data It shows that the whale moved 132 million Dogecoin ($27 million) to corruption from an unknown fund. Such movements usually indicate an intention to load these coins, which can put a lot of pressure on sales Doze price. This also comes with a price crash, which further highlights the current feelings of confinement in Meme Coin’s ecosystem.
Dogecoin fell below psychological levels $ 0.2 the level of growing tensions between the US and China next President Trump’s announcement 100% financing in China, starting next month. Notably, Doge had dropped as low as $0.11 last week, during the crypto market’s damage after Trump’s announcement.
Meanwhile, although the fake transfer shows the intent to sell, a closer look at the on-chain data suggests that an anonymous wallet may be around the corner as well Tokens of the Doge between their hot and cold wallets. Regardless, some metrics highlight the beary sentiment in the Dogecoin ecosystem at the moment.
Santment details it shows that the number of Dogecoin whale transactions It has declined over the past few weeks, suggesting these investors are waiting on the sidelines instead of buying the dip. This raises concerns that the price of the Doge may not be over, as stockpiling often exceeds price. Meanwhile, the transaction volume of Doge has dropped and went from $4 billion on October 10 to $214 million on October 16.
New all-time highs (ATHs) are on the cards
Crypto Analyst Javon Marks He pointed out that new tow-times (ATHs) are on the cards for the Dogecoin price despite the recent crash. In X Posthe pointed out that the DoGE is preparing for its next cyclical adjustment in the new ath and beyond, as happened during the 2017 cycle. Accordingly, he declared that a small increase of 251% was observed.
His accompanying chart shows that Dogecoin price It could be as high as $4, although it is expected to happen next year. However, for now, the crypto analyst Ali Martinez pointed out That needs to stay above $0.19 to avoid a big pullback. He added that a hold above this level could send the meme coin to $0.33.
At the time of writing, the price of Dogecoin is trading at $0.1888, down more than 4% in the last 24 hours, according to text from Coinmarketcap.
Featured image from Getty Images, chart from Tradingview.com
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