The cryptocurrency market has seen intense fluctuations recently. The leading cryptocurrency Bitcoin and the popular name of the meme coin world Dogecoin$DOGE
, attracted investors' attention with its price movements. Major corrections, subsequent recoveries and whale market reactions present important analysis opportunities for both short-term and long-term investors.
Over the weekend, Bitcoin repeatedly attempted to break above the psychologically critical $100,000 mark. However, each time, it faced strong selling pressure and quickly fell. The price fell more than $6,000 twice to $94,400. However, finding solid support at this level, Bitcoin quickly made a significant comeback.
Yesterday’s recovery showed how quickly Bitcoin can break through short-term resistance. Starting at $94,400, it ended with a gain of nearly $8,000 in just one day, sending Bitcoin back up to $102,000. This highlighted the extent of volatility in the market and the rapidly changing emotional reactions of investors.
These violent fluctuations in Bitcoin often resulted in the liquidation of small investors, often referred to as “weak hands.” Investors who opened highly leveraged positions in particular lost their positions, unable to withstand the price movements. However, large investors who aimed to make long-term investments saw these corrections as an opportunity.
In addition to Bitcoin, Dogecoin was also affected by these price movements. The meme coin price fell from $ 0.44 to below $ 0.37 in a short time, but quickly recovered to surpass the $ 0.4 level again. Such fluctuations once again revealed the high volatility of the meme coin sector and the ability of whales to turn this volatility into an opportunity.
The recent movements of Dogecoin whales are particularly striking. According to data from market analyst Ali Martinez, whales holding 10 million to 100 million DOGE have made large savings by turning the fluctuations into opportunities. In just four days, whales have collected 210 million DOGE. This amount is worth approximately $88 million at current prices.
The accumulation behavior of Dogecoin whales was not limited to short-term price movements. Since late October, these whales have been steadily increasing their holdings. While there was a total of 18.55 billion DOGE in these addresses at the end of October, this figure has now increased to 21.64 billion. In just two months, whales have accumulated an additional asset worth approximately $3.3 billion.
In conclusion, the recent fluctuations in Bitcoin and Dogecoin have once again revealed the dynamic nature of the cryptocurrency market. Despite the fluctuations, investors who are patient and act strategically can have the potential to make profits in the long term.