Dogecoin Price Expectations As DOGE Whales Bag 480 Coins
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Key Insights
- Dogecoin price recorded marginal decline despite a broader crypto market recovery.
- DOGE ETF has gained momentum, with nearly $3 million inflow since launch.
- Dogecoin whales have bagged 480 million coins this week, reflecting their long-term confidence on the asset.
Dogecoin price, has been on the investors’ radar for some time amid the volatile trading scenario recorded in the broader crypto market.
It’s worth noting that DOGE price retreated today and hovered near the $0.15 mark despite the broader market recovery.
However, it seems that the latest dip in the leading dog-themed meme coin has allowed traders to enter the market at a discounted price.
According to the latest data, the large investors have put their bets heavily on the asset.
This suggests the long-term confidence of the investors in the asset. On the other hand, the latest approval of the Dogecoin ETF has further bolstered confidence, showing that the institutions are also believing in the asset’s potential.
Besides, it appears that DOGE is making a name for itself from just being considered as a meme coin.
Considering all these aspects, market experts have also shared bullish forecasts for DOGE price, which have gained immense traction from crypto market participants.
Dogecoin Price Slips Despite Massive DOGE Whale Bets
DOGE price today has recorded a marginal decline at 0.15% and traded at $0.1491, with its trading volume plummeting 29% to $1.27 billion.
This indicates that the traders are taking a pause, especially after a recovery this week following the massive crash to $0.13.
Dogecoin price has lost around 2% over the past seven days, while witnessing a retreat of over 8% in the monthly chart.
Over the past 24 hours, the meme coin has hovered between a low and a high of $0.1472 and $0.1529, respectively.
However, despite the dip, the derivatives data suggest a muted sentiment in the market.
According to CoinGlass data, the DOGE Futures Open Interest rose 0.1% to $1.5 billion. Notably, this marks a massive plunge from a high of $6 billion recorded in mid-September.
Meanwhile, it seems that the recent dip has allowed the large investors to accumulate the meme coin at a lower price.
In a recent X post, analyst Ali Martinez has highlighted the accumulation trend, which has fueled the investors’ optimism.
The expert, citing Santiment data, said that Dogecoin whales have bagged 480 million coins in the last two days.
This reflects the long-term confidence of the large investors in DOGE price, especially amid the Dogecoin ETF hype.
DOGE Price Analysis Amid Dogecoin ETF Hype
The latest Dogecoin whale bets come amid the soaring optimism over the DOGE ETF.
According to SoSoValue data, DOGE ETF has continued to witness inflows since launch, with the cumulative total net inflow reaching $2.85 million through December 3.
This indicates that the investors are also confident in the long-term potential of the meme coin.
Amid this, top market experts have shared bullish Dogecoin price predictions, citing a potential surge to $1.
According to market analyst Trader Tardigrade DOGE price weekly chart is showing signs of a bullish reversal, with a Dragonfly Doji pattern emerging at the key support level of $0.15.
He noted that if this support holds, the meme coin could target the $1 mark ahead.
Echoing a similar sentiment, analyst Altcoin Pioneers on X, revealed a target of $0.35, $0.6, and $1.
However, the expert said that if Dogecoin price slips below the $0.14 support, it could trigger a further dump to $0.1.
The post Dogecoin Price Expectations As DOGE Whales Bag 480 Coins appeared first on The Coin Republic.
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Dogecoin Price Expectations As DOGE Whales Bag 480 Coins
Share:
Key Insights
- Dogecoin price recorded marginal decline despite a broader crypto market recovery.
- DOGE ETF has gained momentum, with nearly $3 million inflow since launch.
- Dogecoin whales have bagged 480 million coins this week, reflecting their long-term confidence on the asset.
Dogecoin price, has been on the investors’ radar for some time amid the volatile trading scenario recorded in the broader crypto market.
It’s worth noting that DOGE price retreated today and hovered near the $0.15 mark despite the broader market recovery.
However, it seems that the latest dip in the leading dog-themed meme coin has allowed traders to enter the market at a discounted price.
According to the latest data, the large investors have put their bets heavily on the asset.
This suggests the long-term confidence of the investors in the asset. On the other hand, the latest approval of the Dogecoin ETF has further bolstered confidence, showing that the institutions are also believing in the asset’s potential.
Besides, it appears that DOGE is making a name for itself from just being considered as a meme coin.
Considering all these aspects, market experts have also shared bullish forecasts for DOGE price, which have gained immense traction from crypto market participants.
Dogecoin Price Slips Despite Massive DOGE Whale Bets
DOGE price today has recorded a marginal decline at 0.15% and traded at $0.1491, with its trading volume plummeting 29% to $1.27 billion.
This indicates that the traders are taking a pause, especially after a recovery this week following the massive crash to $0.13.
Dogecoin price has lost around 2% over the past seven days, while witnessing a retreat of over 8% in the monthly chart.
Over the past 24 hours, the meme coin has hovered between a low and a high of $0.1472 and $0.1529, respectively.
However, despite the dip, the derivatives data suggest a muted sentiment in the market.
According to CoinGlass data, the DOGE Futures Open Interest rose 0.1% to $1.5 billion. Notably, this marks a massive plunge from a high of $6 billion recorded in mid-September.
Meanwhile, it seems that the recent dip has allowed the large investors to accumulate the meme coin at a lower price.
In a recent X post, analyst Ali Martinez has highlighted the accumulation trend, which has fueled the investors’ optimism.
The expert, citing Santiment data, said that Dogecoin whales have bagged 480 million coins in the last two days.
This reflects the long-term confidence of the large investors in DOGE price, especially amid the Dogecoin ETF hype.
DOGE Price Analysis Amid Dogecoin ETF Hype
The latest Dogecoin whale bets come amid the soaring optimism over the DOGE ETF.
According to SoSoValue data, DOGE ETF has continued to witness inflows since launch, with the cumulative total net inflow reaching $2.85 million through December 3.
This indicates that the investors are also confident in the long-term potential of the meme coin.
Amid this, top market experts have shared bullish Dogecoin price predictions, citing a potential surge to $1.
According to market analyst Trader Tardigrade DOGE price weekly chart is showing signs of a bullish reversal, with a Dragonfly Doji pattern emerging at the key support level of $0.15.
He noted that if this support holds, the meme coin could target the $1 mark ahead.
Echoing a similar sentiment, analyst Altcoin Pioneers on X, revealed a target of $0.35, $0.6, and $1.
However, the expert said that if Dogecoin price slips below the $0.14 support, it could trigger a further dump to $0.1.
The post Dogecoin Price Expectations As DOGE Whales Bag 480 Coins appeared first on The Coin Republic.
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