Dogecoin

when

Billion

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
<a href="https://u.today/dogecoin-death-cross-appears-but-hourly-charts-tell-different-story">Dogecoin</a> whales' activity is a the strong rise, following the breakthrough of the 100 EMA. As soon as the meme coin broke through the technical threshold, the activity of the whales surged <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=all&amp;chart=all">substantially</a>.
A robust correlation has been observed in the latest data and charts between the rise in large transactions by whales and Dogecoin's price movement. The quantity of large transactions, as well as their overall volume, clearly increased when Dogecoin's price reached $0.13.
<img alt="DOGE/USDT Chart" data-entity-type="file" data-entity-uuid="1fa4577c-5e63-4e52-a7fe-7f22da2cbfb6" src="https://u.today/sites/default/files/inline-images/image_1018.png"><a href="https://www.tradingview.com/">DOGE/USDT Chart by TradingView</a>
The amount of 1,030 large transactions totaling a whopping 6.84 billion <a href="https://u.today/dogecoin-creator-proposes-doge-to-nba-legend-scottie-pippen">DOGE</a> were made on Dogecoin in the last day. Large holders appear to be either redistributing their holdings or getting ready for bigger market movements based on this activity.
The correlation observed between the increase in whale activity and the Dogecoin price indicates that whales are essential to the current dynamics of the market. It is possible that many traders, including these large holders, received buy signals as the price crossed the 100 EMA, a crucial technical indicator. This surge in activity may be interpreted as both a cause and an effect of the recent price increase.
The data suggests a few possible outcomes for <a href="https://u.today/60-million-dogecoin-doge-in-24-hours-whales-pushing-for-liberation">Dogecoin's</a> future. A sustained bullish trend may be indicated, and more buying interest may be drawn if the price stays above the 100 EMA and approaches breaking the 200 EMA. It is important to keep an eye on the support levels offered by the 50 EMA ($0.127), 100 EMA ($0.133) and 200 EMA ($0.128).
Dogecoin may stabilize and possibly reach higher resistance levels around $0.15 if it stays above these levels. However, Dogecoin, may experience downward pressure if the number of large transactions declines and the price is unable to stay above these moving averages. It appears that the market is holding out for clearer signals as the RSI shows a comparatively neutral zone.

Dogecoin Whales Move 7 Billion DOGE in 24 Hours: What's Behind This Move?

U_Today

2024년 7월 22일에 게재된 다른 기사

Terra Classic Poised For 280% Rally On ‘Major Recovery Strength’ – Analyst

Harmony (ONE) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Binance Supports Upcoming Network Upgrades for Shentu and RIF

While Everyone Expected a Trump Rally in Bitcoin, Famous Analyst Warned! "The Opposite Could Happ...

Tron’s Network Activity Soars as TRX Price Remains Bearish – Will a Rebound Follow?

Microsoft Outage Disrupts Global Services at Airlines, Banks, LSE

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!