$DOGE
💥The huge transfer shocked the market!
🔥Dogecoin rose in response!
On August 13, a sudden storm came.
Whale Alert, a platform that monitors market trends keenly.
It captured an astonishing Dogecoin (DOGE) transfer record - 103.8 million DOGE, worth up to $11.2 million.
It flowed from the well-known Bittrex exchange to a mysterious wallet.
This transaction happened when the price of Dogecoin was firmly holding the key support point of $0.1, instantly activating the entire market.
In the following 24 hours, the price of Dogecoin soared by 1.44%.
Easily breaking through the high of $0.109, the market atmosphere was instantly boiling.
The rise of Dogecoin is not only reflected in the price, but also drives the activity of the entire market.
The trading volume surged by 25% in a short period of time, showing investors' strong interest and high attention to Dogecoin.
At the same time, the increase in open interest also reached 2%.
This further confirms the market's confidence and expectations for the future development of Dogecoin.
Since April 2024, Dogecoin has continued to move steadily in the upward channel.
Both the highs and lows have shown a trend of gradual rise.
Especially after the market adjustment on August 5, Dogecoin has approached the key resistance zone with a more determined pace.
Analysts generally believe that if the current upward momentum can continue, the price of Dogecoin is expected to usher in a new round of leaps.
The increase may reach 15%, directly pointing to the target price of $0.12.
However, investors are also reminded to pay attention to risks. If Dogecoin fails to successfully break through the resistance zone.
It may face strong selling pressure from the short side.
In addition, data from CoinGlass, an on-chain data analysis company, also provides valuable reference information for traders.
Data shows that the liquidation level of Dogecoin has an important impact on market trends.
When the price of Dogecoin rises to $0.109, about $9.36 million of short positions will face liquidation risk.
On the contrary, if the price falls below $0.103, about $2.93 million of long positions may face liquidation difficulties.
These key price nodes have undoubtedly become an important basis for traders to formulate strategies and manage positions.