Recent observations indicate that the price trend of Dogecoin (DOGE) is declining. Despite this, a notable activity pattern has emerged, with whales accumulating large amounts of DOGE over the past few days.
Are you still confident in DOGE?
With recent whale anomalies, is Dogecoin about to start a bull run?
An analysis of Dogecoin shows that some large wallets, especially those holding 100,000 to 10 million Dogecoin, have been actively buying more coins. Specifically, the number of wallets holding 100,000 to 1 million Dogecoins remained stable with a slight increase, while the number of wallets holding 1 million to 10 million Dogecoins also increased. This increase reflects the growing interest of a large number of investors who may be taking advantage of lower price points.
Despite the increase in whale wallets' accumulation, the market is still trending downward. Dogecoin has continued to fall over the past four days. From a trading price of $0.12 to around $0.11, it has fallen by 1.8% in the latest trading day alone. The contrast between the increase in holdings by large investors and the price drop shows that the market situation is complex and investors' behavior is not immediately consistent with market trends.
Technical analysis further supports the bearish outlook. DOGE's relative strength index (RSI) has fallen below the neutral line, highlighting the weakening of bullish momentum. This shift has exacerbated the bearish sentiment in the market and raised questions about DOGE's short-term prospects.
For investors and market observers, these dynamics highlight the importance of strategic analysis and the potential for Dogecoin's value to rebound under the careful planning of important stakeholders.
Observation: wld, sats, FIL, pepe, floki, wif....
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