Dogecoin

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/massive-dogecoin-movement-to-coinbase-correlates-with-price-slip" rel="noopener noreferrer nofollow">Massive Dogecoin Movement to Coinbase Correlates With Price Slip</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-breaks-42000-level-again-altcoin-rally-expected" rel="noopener noreferrer nofollow">Dogecoin</a>, the well-known cryptocurrency originally created as a joke, has seen a price decrease after a significant trading period that elevated its value. The decline occurred as almost 140 million Dogecoin, equivalent to over $30 million, were shifted to <a href="https://en.bitcoinhaber.net/robinhood-ceo-discusses-the-impact-of-cryptocurrency-trading-volume-surge-on-market-and-company" rel="noopener noreferrer nofollow">Coinbase</a>, a leading cryptocurrency exchange. Analysts regard this hefty transfer as a potential catalyst for the drop in Dogecoin’s value since it suggests a possible sell-off.</p>
<h2 id="notable-transfer-precedes-dogecoin-price-dip">Notable Transfer Precedes Dogecoin Price Dip</h2>
<p style="text-align: justify">The blockchain transaction tracker Whale Alert flagged a large transfer of Dogecoin to Coinbase. The sum, 139.99 million <a href="https://en.bitcoinhaber.net/dogecoin-adoption-continues-to-grow-in-post-pandemic-era" rel="noopener noreferrer nofollow">DOGE</a>, worth about $30.22 million, was moved amid the digital coin’s depreciation, hinting at a correlation between the influx of tokens to the exchange and the bearish price action. This development comes as an uptick in available DOGE on cryptocurrency exchanges often aligns with a downward price trajectory.</p>
<h2 id="dogecoin-s-market-sentiment-wanes">Dogecoin’s Market Sentiment Wanes</h2>
<p style="text-align: justify">Despite the recent downturn, Dogecoin’s price analysis over the long term indicates a potential recovery, moving from a downward to an upward trend. Nevertheless, present market indicators and on-chain data reflect negatively on Dogecoin’s immediate momentum, with analysts observing heightened speculation from traders and investors regarding the coin’s future.</p>
<p style="text-align: justify">Current trading data echoes this skepticism, revealing a decrease in open interest and a substantial drop in trading volume. These figures contribute to the consensus of a bearish outlook on Dogecoin. Prior to this decline, Dogecoin had breached important resistance levels, reaching a peak not seen in over two years, which fueled investor excitement. In spite of the fall, expectations remain that Dogecoin may reevaluate previous resistance as a support level, potentially climbing to higher price benchmarks. At present, Dogecoin is trading slightly lower, marking a decrease in the past day.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/massive-dogecoin-movement-to-coinbase-correlates-with-price-slip" rel="noopener noreferrer nofollow">Massive Dogecoin Movement to Coinbase Correlates With Price Slip</a></h5>

Massive Dogecoin Movement to Coinbase Correlates With Price Slip

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