🎉🎉Big update Dogecoin about pumping 🎉🎉
🔥Here Is Why Dogecoin (DOGE) Won’t Reach $0.30 Soon🚀🚀
🚀🚀The recent surge in Dogecoin (DOGE) price from $0.12 to $0.22 has prompted whales to sell their holdings, signaling a potential shift in market dynamics. While EMA Lines indicate a bullish trend for DOGE, the ADX metric suggests this trend lacks the strength to sustain new highs.
Additionally, the SAR metric hints at an impending trend reversal, which could see the DOGE price adjust in response to these combined indicators. Investors are closely monitoring these technical signals to navigate the volatile cryptocurrency market.
Whales Are Selling Their DOGE
The DOGE market is witnessing a waning interest from substantial investors, as reflected by the decline in the number of large-scale addresses – those holding at least 10 million DOGE.
Holders holding between 10 million and 100 million decreased from 553 to 548 in just one day after increasing from 520 to 553 between March 18 and March 30. Those holding between 100 million to 1 billion DOGE decreased from 137 to 133 in the last day. It reached its peak of 140 on March 24.
DOGE Holders With At Least 10M coins. Source: Santiment.
This reduction in whale holdings could point to profit-taking after the recent DOGE price jump. While such selling by major holders can lead to an increased supply on the market, potentially putting downward pressure on prices, the current price trajectory suggests that other market forces are buoying the value of DOGE.
This divergence implies that the market may not solely hinge on the actions of these whales and could be entering a more complex phase of price discovery.
Dogecoin (DOGE) Price Prediction 2024/2025/2030
Conversely, if the market sentiment shifts towards a more bullish outlook, an attempt to break through the $0.29 resistance level could be on the horizon, potentially ushering in a new phase of upward momentum for DOGE.
