Cryptocurrency

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 <p class="paragraph">After a turbulent period in the last week, altcoins are on their way up in the previous 24 hours.&nbsp;</p>
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 <p class="paragraph">Most notably, there was a significant increase in the creation of Dogecoin (DOGE) wallets during the last month that held more than $1 million of the cryptocurrency, with 121 new wallets in total popping up.</p>
 <p class="paragraph">In fact, a massive amount of Dogecoins have moved out of stagnant <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> in the last 24 hours. This increase in <a rel="noopener noreferrer nofollow" title="wallets" href="https://thebittimes.com/tag/wallets.html">wallets</a> that hold more than $1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in DOGE, combined with the spike in activity of dormant holders, is often a sign of a price direction change and ‘a sign of big <a rel="noopener noreferrer nofollow" title="money" href="https://thebittimes.com/tag/money.html">money</a> <a rel="noopener noreferrer nofollow" title="interest" href="https://thebittimes.com/tag/interest.html">interest</a>,’ according to <em>Santiment </em>data on X on November 22.&nbsp;</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="648" src="https://cdn.thebittimes.com/images/2023/11/23/05348c76e2764cb6bd658a7ad4194a39.webp" alt="An influx of wallets that hold $1 million or more in DOGE.  Source: Finbold
" class="wp-image-138995" srcset="https://cdn.thebittimes.com/images/2023/11/23/05348c76e2764cb6bd658a7ad4194a39.webp 1024w, https://cdn.thebittimes.com/images/2023/11/23/05348c76e2764cb6bd658a7ad4194a39.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/05348c76e2764cb6bd658a7ad4194a39.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/05348c76e2764cb6bd658a7ad4194a39.webp 1536w, https://cdn.thebittimes.com/images/2023/11/23/05348c76e2764cb6bd658a7ad4194a39.webp 1703w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   An influx of wallets that hold $1 million or more in DOGE. Source: Finbold
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 </figure>
 <p class="paragraph">Additionally, Dogecoin has experienced a substantial uptick in its derivatives volume. The notable surge has significantly impacted the memecoin, with short positions reaching an impressive $718.23 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> on November 17. These 24-hour-long positions for DOGE amounted to $627.60 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, establishing a ratio of 53.35% to 46.63%.</p>
 <h2 class="wp-block-heading" id="h-doge-price-analysis">DOGE price analysis</h2>
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 <p class="paragraph">DOGE’s price was $0.08 at the time of publication, meaning it had risen approximately 2.17% over the past 24 hours. It experienced a decrease of -2.85% in the previous week, which contrasts with the gains made over the last month’s period, which amounted to 14.15%.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/23/53555958345206e9d0d1f5ad8cda7e7a.webp" alt="DOGE 24-hour price chart.  Source Finbold
" class="wp-image-138996" srcset="https://cdn.thebittimes.com/images/2023/11/23/53555958345206e9d0d1f5ad8cda7e7a.webp 1024w, https://cdn.thebittimes.com/images/2023/11/23/53555958345206e9d0d1f5ad8cda7e7a.webp 300w, https://cdn.thebittimes.com/images/2023/11/23/53555958345206e9d0d1f5ad8cda7e7a.webp 768w, https://cdn.thebittimes.com/images/2023/11/23/53555958345206e9d0d1f5ad8cda7e7a.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   DOGE 24-hour price chart. Source: Finbold
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 <p class="paragraph">With positive indicators, such as its trading above the 200-day moving average and 18 green days in the previous months, it is no wonder that this digital asset is experiencing a price increase.</p>
 <p class="paragraph">However, it is essential to note that it is currently being outperformed by 76% of the top 100 cryptos, as well as its current reduction of -90% from its all-time high.</p>
 <p class="paragraph"><strong><em>Disclaimer: </em></strong><em>The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/100-new-doge-millionaire-wallets-emerge-a-sign-of-big-money-interest-tbt71335.html">https://thebittimes.com/100-new-doge-millionaire-wallets-emerge-a-sign-of-big-money-interest-tbt71335.html</a></p>

100 new DOGE millionaire wallets emerge; A sign of ‘big money’ interest

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