Dogecoin whales are the only hope to recover from 32% drop
Dogecoin is currently facing a difficult recovery after falling 32% from $0.46 to $0.32. This decline has led to many investors choosing to stay out of the market to avoid risks during periods of volatility. However, Dogecoin "whales", i.e. large investors, are playing an important role in protecting the price of this currency.
The large trading surge (above $100,000) has reached its highest level since November 2021, indicating positive activity from whales, thereby creating the liquidity needed to support the market. This could help Dogecoin maintain the $0.32 support level, thereby creating a foundation for a recovery. However, without active participation from retail investors, market sentiment could continue to weaken, leading to the risk of further price declines.
