Shocked!!!
Dogecoin whales are in action, and the future trend of DOGE is of concern?
Since May 28, whales holding 100 million to 1 billion Dogecoins have been hoarding, purchasing more than $100 million worth of supply, and their holdings have risen from 20.69% to 21.40%, which is reflected in the address balance.
Increased buying activity may be beneficial to DOGE prices, as its demand growth may drive prices higher.
The current price of Dogecoin is $0.15. Although it has been sideways for the past seven days, whales' increase in holdings may change the status quo. If it continues, it may explode and break through $0.20, like in March.
From the 90-day MCA, DOGE has been rising since the first week of April until May 29. Long-term holders' selling has caused DOGE to hover between $0.13 and $0.16 in the past month.
But the indicator has fallen in the past three days, and more holders are willing to manage their tokens themselves rather than store them on exchanges.
If this situation continues for a few weeks, Dogecoin may see a bullish parabolic trend, and on-chain data shows that the circulation volume has decreased, with a daily circulation volume of 357.04 million, which is also a good development for the price, because low circulation volume means low selling pressure.
Although low selling pressure does not necessarily mean a breakthrough, other indicators show that a rebound may be coming.
According to statistics, the profit rate of Dogecoin holders is 83%, and if DOGE rises, this ratio may rise to 90%.
Want to know more first-hand information and in-depth analysis of the currency circle? Hurry up and click on the avatar to follow
, we will bring you the latest market analysis and high-quality potential currency recommendations every day
#美国4月核心PCE指标显示通胀放缓 #MegadropLista #meme板块关注热点 #BTC走势分析 #新币挖矿
