The big whale sold 1.74 billion Dogecoins, and the price of Dogecoin might plummet!
Recently, something big happened on the Robinhood exchange: a big whale user deposited 1.74 billion Dogecoins in six transactions! This deposit has caused a stir in the market, and everyone is keeping an eye on this massive holding.
When a big whale deposits so many Dogecoins into the exchange, it usually indicates a sign of a sell-off. They might be looking at the recent good performance of Dogecoin and want to cash out while the price is high. In fact, Dogecoin has risen nearly 20% in the past seven days, supported by Musk, and Bitcoin has also surged, benefiting Dogecoin.
However, even if the big whale sells off, the future of Dogecoin is not without hope. Analyst Ali Martinez stated that historically, Dogecoin tends to rise in November. Of course, in the market, nothing is certain, and Dogecoin doesn't necessarily rise every November.
In the spot market, Dogecoin remains the most popular one. Investors truly love Dogecoin and have maintained their enthusiasm, which supports its price. Additionally, if Trump manages to become the President of the United States, he might support Musk’s government efficiency department, and Dogecoin could potentially rise again.
Overall, the big whale's sell-off may temporarily affect the price, but the future of Dogecoin is still full of uncertainties. Investors need to keep a close eye on the market, analyze rationally, and not be swayed by temporary fluctuations.
Recently, I plan to position myself with a potential coin that is ready to explode, doubling is quite simple, and I am also preparing to find some potential coins to hold until the end of the year, expecting a space of over 10 times is not a problem. If you want to follow along, leave a message, follow, like, and share for free.
