Future

Bitcoin

Dogecoin

Elon Musk

<p style="text-align: justify"><a href="https://en.coin-turk.com/bloomberg-analysts-bitcoin-commentary-what-can-the-third-quarter-bring/" data-wpel-link="internal">Bitcoin</a> price dropped below $35,000 a few hours ago and is now attempting to recover after testing its recent support. Meanwhile, &lt;a href="https://en.coin-turk.com/dogecoin-will-it-reach-its-all-time-high-<a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">market</a>-value/”&gt;DOGE is currently trading at $0.068. The altcoin market has experienced some volatility and minor corrections. So, what is the current situation for Dogecoin investors, and which levels should they focus on?</p> 
<h2 style="text-align: justify" id="dogecoin-doge">Dogecoin (DOGE)</h2> 
<p style="text-align: justify">According to on-chain data, whale activity increased from 790 to 1090 between November 27 and early December. This could be due to the overall market sentiment and the celebrations surrounding DOGE. During the same period last year, DOGE whale activity increased by approximately 450%. The 2022 DOGE Day celebration resulted in a 100% price increase from $0.060. Of course, we should not forget the impact of Elon Musk and the Twitter sales factor.</p> 
<p style="text-align: justify">So, what about Dogecoin miners? Between October 25 and November 1, miners took a break from selling and accumulated 40 million DOGE. We previously mentioned that we might not see a significant price increase in the medium term due to the massive sales by DOGE miners. This turned out to be true, and the 40 million DOGE purchased by miners did not have much impact on the price.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-272933 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/Doge-Madenci-Verileri.png" alt="" width="1600" height="457"></p> 
<p style="text-align: justify">Miners, who have accumulated only $2.8 million, may still believe that the price could drop to more reasonable levels. To be sure, we need to monitor how long the accumulation will continue. If the accumulation persists, the resistance levels will weaken as selling pressure decreases, and smaller investors will be encouraged to buy.</p> 
<h2 style="text-align: justify" id="the-future-of-doge-price">The Future of DOGE Price</h2> 
<p style="text-align: justify">In an environment where miners have paused selling and started accumulating, while whales’ risk appetite has increased again, what will happen to the price of DOGE? For now, it seems that an overly optimistic approach would be unwarranted. Moreover, the withdrawal of Musk’s support and the almost certain exclusion of Dogecoin from Twitter’s payment services have eliminated positive external factors.</p> 
<p style="text-align: justify">The critical level for DOGE price was $0.069, which has been lost. The price dropped to $0.065, and if selling continues, it could revisit $0.06.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-272931 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/DOGEUSDT_2023-11-02_22-11-19.png" alt="" width="1815" height="847"></p> 
<p style="text-align: justify">On the daily chart, a close below $0.067 indicates that selling pressure could continue towards $0.064 and $0.0616.</p> 
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-272932 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/DOGEUSDT_2023-11-02_22-12-24.png" alt="" width="1815" height="847"></p> 
<p style="text-align: justify">With the price attempting to re-enter the parallel channel that formed in August, bulls are facing a challenging task.</p> 
<div class="sorumluluk_reddi" style="text-align: justify">
 <strong>Disclaimer:</strong> The information provided in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any transactions.
</div> Continue Reading: <a href="https://en.coin-turk.com/dogecoin-doge-on-chain-data-and-price-analysis/" data-wpel-link="internal">https://en.coin-turk.com/dogecoin-doge-on-chain-data-and-price-analysis/</a>

Dogecoin (DOGE): On-Chain Data and Price Analysis

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