Dogecoin ($DOGE ) Sees Epic Surge of $1 Million Transactions, What's Going On?
Dogecoin whale activity is on the rise. Over 150 DOGE transactions, each exceeding $1 million, have been recorded in the past 24 hours." Increasing institutional interest in cryptocurrencies, including Dogecoin, could be contributing to the rise in large transactions. Institutions entering the market often do so with subs#tantial capital, leading to large transaction volumes.
Whales might be positioning themselves for anticipated price movements, either upward or downward, based on market analysis or news. Dogecoin price action At the time of writing, Dogecoin was down 1.38% in the last 24 hours to $0.161. Dogecoin has remained above the 50-day SMA of $0.1547 since late May, indicating strong demand near this level.
If this trend continues, Dogecoin may surpass the short-term barrier of $0.174, which is a crucial mark to monitor. If buyers break through this barrier, Dogecoin might rise to $0.21, and then to $0.23. Conversely, if the price falls from the present level or the daily SMA 50, it may induce short-term selling. A breach below the 50-day SMA might reverse the short-term trend, sending Dogecoin to 0.14. $PEPE $SHIB #doge⚡ #mememcoinseason2024 #altcoins #shiba⚡ #TopCoinsJune2024
#BTC Bitcoin (BTC) could hit a new all-time high as soon as next week following the lowest United States job openings in three years — a sign of a slowing economy — but two other indicators must be confirmed, according to a crypto researcher. “Last night, another critical and forward-looking job metric, job openings, slowed down significantly,” 10x Research head of research Markus Thielen wrote in a June 4 report. The U.S. Bureau of Labor Statistics June 4 report on Job Openings and Labor Turnover (JOLT) showed in April the country had 8.1 million job openings with around 0.8 unemployed persons per job opening, the highest ratio since February 2021. According to Thielen, it could be the first of the economic indicators suggesting an economic slowdown, which will all “lead to a lower inflation” — a key bullish indicator for Bitcoin. When the inflation-measuring U.S. Consumer Price Index (CPI) results lowered by 0.1% on May 15, Bitcoin surged 7% over the following five days to $71,432 #btc70k #BlackRock $BTC