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The cryptocurrency market is always in flux, and one of the coins that has recently caught the attention of traders and investors alike is $DODO. <a href="https://twitter.com/lookonchain/status/1688780183858470912?s=20" target="_blank" rel="noopener noreferrer nofollow">According to the famous Twitter analyst, Lookonchain</a>, the price of $DODO has surged by a significant 33% in a single day. This bullish momentum can be attributed to a couple of key factors: 
<ol> 
 <li>Binance’s Listing: One of the primary reasons for this price surge is Binance’s recent listing of $DODO. Binance, being one of the largest and most influential cryptocurrency exchanges in the world, has a substantial impact on the coins it lists. A listing on such a platform often leads to increased visibility, liquidity, and trading volume for the coin.</li> 
 <li>Big Investors’ Involvement: Alongside the Binance listing, Lookonchain has highlighted that prominent investors have begun pouring funds into $DODO. This influx of capital from big players can significantly drive up the demand and, consequently, the price of a coin.</li> 
</ol> 
Drawing parallels with another cryptocurrency, YGG: if $DODO continues to <a href="https://captainaltcoin.com/dodo-may-mirror-yggs-price-surge-after-binance-listing-but-theres-a-catch/" target="_blank" rel="noopener noreferrer nofollow">mirror YGG’s previous trajectory</a>, it might reach a top price target of $0.52. This is a substantial increase from its current trading price of $0.15. 
However, it’s not all rosy for $DODO. Lookonchain has observed some intriguing activities from certain investors: 
<ul> 
 <li>In the past 24 hours, seven investors have claimed 8.11M $DODO, equivalent to $1.06M.</li> 
 <li>DWF Labs, a notable entity in the crypto space, received a significant 6M $DODO (valued at $782K) from the $DODO Undistributed wallet.</li> 
</ul> 
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 <img decoding="async" loading="lazy" width="1024" height="540" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-1024x540.png" alt="" class="wp-image-307344" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-1024x540.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-300x158.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-767x404.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-1536x809.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-2048x1079.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-285x150.png 285w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-664x350.png 664w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-225-788x415.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
Furthermore, an investor with the address “0xE809” claimed 2.77M $DODO ($355K) and swiftly deposited it to Binance. This rapid movement of funds to an exchange might be a precursor to a potential sell-off. Such large-scale sell-offs can exert downward pressure on the coin’s price. 
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 <img decoding="async" loading="lazy" width="1024" height="426" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-1024x426.png" alt="" class="wp-image-307352" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-1024x426.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-300x125.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-767x319.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-1536x639.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-2048x852.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-361x150.png 361w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-100x42.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-841x350.png 841w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-226-788x327.png 788w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
However, there’s a silver lining. Lookonchain’s recent update indicates that out of the eight investors they tracked, four have chosen to stake their $DODO holdings instead of selling them. These investors have staked a total of 8.03M $DODO, amounting to $1.12M, in just two hours. 
<h2 class="wp-block-heading" id="strong-speculation-and-implications-strong">Speculation and Implications:</h2> 
The decision of these four investors to stake $DODO is a positive sign, indicating their confidence in the coin’s long-term potential. Staking often means that investors believe in the project’s future and are willing to lock their funds to earn rewards. 
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However, Lookonchain wisely advises caution. Drawing from the recent events with the YOGO coin, there’s a possibility that other addresses might decide to sell their $DODO holdings at the peak price. Such actions can lead to a sharp price decline, negatively impacting other investors. 
You can check our <a href="https://captainaltcoin.com/dodo-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">$DODO’s price prediction here.</a> 
In conclusion, while $DODO shows promising signs of growth, it’s essential for investors to stay vigilant, monitor market movements, and make informed decisions. As always, the insights from top-notch analysts like Lookonchain are invaluable in navigating the volatile world of cryptocurrencies. 
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The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/investors-claim-2200000-worth-of-dodo-prepare-for-sell-offs-says-top-on-chain-analyst/">Investors Claim $2,200,000 Worth Of DODO: ‘Prepare For Sell-Offs’ Says Top On-Chain Analyst</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.

Investors Claim $2,200,000 Worth Of DODO: ‘Prepare For Sell-Offs’ Says Top On-Chain Analyst

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