Cryptocurrency market overview | May 31 🧙‍♂️ Market va | Crypto De Nostradame on Binance Square

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Cryptocurrency market overview |   May 31
  🧙‍♂️ Market value: $2.53 (+0.98%)
  🧙‍♂️ #BTC  dominance: 53.07% (+0.09%)
  🧙‍♂️ Fear and Greed Index: 73 (greed)

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Sevgili Dostlar Bütün planlarınızı ABD seçimlerinden sonrasına göre yapın. Piyasanın rahatlaması Trumpla olacak. Yatırım tavsiyesi değildir ancak. Bütün çalışmalar onu gösteriyor. 😇

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⚡️ Bitcoin's weekend volume dropped to the lowest level of 2024.

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Selling by Dogecoin Holders May Depress Price Despite Accumulation Trends. A significant change in behavior has been observed among the major holders of Dogecoin, with recent data indicating a serious selling wave. If this selling trend continues, DOGE price may come under further pressure. According to the latest data, Dogecoin is worth $0.12, and has fallen 23.74% in the last month. This ongoing selling trend could drop the price to around $0.10. To better understand whether this downward trend will continue, we examined the Average Coin Age (OCA). OCA measures the average age of all coins, i.e. their date of purchase. Importantly, OCA shows the trading activity of older coins, especially those that have been held in the wallet for more than 155 days. An increase in OCA indicates an increase in trading activity resulting in sales on exchanges. Since June 25, Dogecoin's 90-day OCA has been decreasing, indicating that these old coins are being moved to personal wallets rather than being sold. Considering different metrics and their impact on price, Dogecoin's trading may remain within a limited band. Specifically, the price is likely to fluctuate between $0.11 and $0.13 in a short time. So what about market participants? To understand their behavior, we conducted Exchange On-Chain Market Depth analysis, which evaluates the number of traders looking to buy or sell a cryptocurrency across the top 10 exchanges. If more traders want to sell (ask), the probability of a price drop increases. Conversely, if there is more bidding, the potential price increase comes to the fore. Currently, bid volume for Dogecoin has significantly exceeded ask volume, according to IntoTheBlock data. If this trend continues with traders scrambling to buy #DOGE at lower prices, a rally is likely to take the price to around $0.15. However, this prediction will be invalid if the number of traders bidding decreases.

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