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15% of the Dogecoin offer remains motionless for more than six months, Glassnode said.
These assets are stored by those who bought them in November-December 2024.
15% of the total Dogecoin (DOGE) offer was last moved 6-12 months ago. This was stated in Glassnode.According to experts, 15% of Dogecoin's offer is kept by investors who bought the asset even before the growth in November-December 2024.
"7% of DOGE's supply is concentrated at $0.20 - this is the third largest cluster after $0.17 and $0.07. [...] In the short term, this level may act as a resistance zone," Glassnode added.
In addition, analysts noted that the open interest (OI) in Dogecoin futures is about $1 billion, which is significantly lower than the average level of November-December 2024 of about $3 billion.
However, they added that the current increase in the price of the asset is due to the support of investors from the spot market, and not by speculation involving leverage.
It should be noted that according to CoinGlass, the open interest in Dogecoin futures is almost $2 billion.At the time of writing, the asset is trading near $0.20, according to TradingView.
Earlier we reported that the Dogecoin Foundation division launched a reserve based on 10 million DOGE.#WhaleMovements #Binance #cryptomeme #TradingMemes #DOGE $DOGE
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