Key Points on Dogecoin (DOGE) Developments
Whale Activity Decline 🐋⬇️:
Large investors (whales) holding at least 0.1% of DOGE’s supply have significantly reduced their on-chain activity since early September.
Inflows: Dropped from 229.49 million to 27.96 million DOGE per day (an 87.81% decrease).
Outflows: Fell from 181.29 million to 17.42 million DOGE (an 80.7% decrease).
Net Flow Reduction 📉:
The net flow of DOGE into whale wallets is now 10.54 million DOGE, which is four times less than the previous day.
Seasonal Trends 🌦️:
Whale activity declined just before September, a month known for being challenging for cryptocurrencies due to seasonal and market factors.
Historically, September sees weaker performance as investors return from vacations and reassess their portfolios, often leading to selling pressure.
DOGE’s Historical Performance 📊:
Despite the general trend, September has been a positive month for DOGE, with an average profitability of 11.3%.
In contrast, Bitcoin’s average profitability in September is -6.21%.
Future Outlook 🔮:
It’s uncertain what the next 30 days hold for DOGE, but any major price movements will likely involve significant players.
Feedback
It’s interesting to see such a sharp decline in whale activity. 🧐
September’s historical performance for DOGE is quite intriguing compared to Bitcoin. 📈
The market dynamics this month will be something to watch closely! 👀
Feel free to ask if you need more details or have any other questions! 😊
