Dogecoin (DOGE) Faces Multi-Month Lows Amid Decreased Whale Activity
Release: 2024/08/16 21:56 Reading: 729
Dogecoin (DOGE) has experienced a significant decline of 16% over the past 30 days, now trading at $0.10. This downturn is largely attributed to a sharp decrease in whale activity, with large transactions falling by over 60%. The decline in whale confidence, indicated by reduced large transactions and netflow ratios, signals a bearish outlook. Should this trend continue, DOGE could witness further declines, potentially dropping to $0.08. However, a reversal in whale sentiment could push the price back up to $0.12.
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