It appears that Dogecoin whales – some of its major owners – are selling their holdings as their price charts turn red. Is the pessimistic Dogecoin price prediction more or less inevitable?
She announced House of the Doges -The investment arm of the Dogecoin project, supported by its foundation and community – plans announced Merge with a company listed on the Nasdaq Stock Exchange And launch its own institutional treasury.
For their part, blockchain data reveals the other side of promising addresses, where Some of its major investors are rushing to close their positions by selling them their holdings. The total position change data also reveals that the currency is exposed to a strong selling wave, as… Wallets linked to some of their largest holders sold 360 million Dogecoin (Dogecoin) Worth $74 million This wave almost coincides with a general market pullback, but the pace of currency-related selling cannot be ignored.
Dogecoin Price Forecast: Bounce from Ascending Trendline Suggests Promising Outlook
The price of the Dogecoin coin has rebounded from the general upward trendline, suggesting that it is enjoying remarkable buying momentum despite continued whale selling, such that the price of the coin remains stable around the $0.20 level supported by the increase in trading volumes to reach 10% of its circulating supply. This allows the price of the currency to move sharply towards $0.45 – or higher – if successful. By crossing the $0.22 barrier.
However, uptrend line support could collapse if whales continue to sell, giving way to a deeper decline towards $0.14 and perhaps $0.12, but historical data indicates that dog-inspired meme coins have outperformed the market in several previous cycles.
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The post Dogecoin-DOGE price prediction: A strong wave of selling followed the news from the NASDAQ stock exchange. Is it the calm that paves the way for the storm of its next launch? appeared first on Cryptonews Arabic.