Whales Sell 200 Million DOGE! Market Panic, Is Dogecoin About to Crash?
Recently, Dogecoin (DOGE) has been a bit sluggish, with the price fluctuating between $0.16 and $0.2, unable to go up or down, which is quite frustrating. Then suddenly, big news broke — a large holder transferred 200 million DOGE to an exchange, worth $35 million! This is no small matter; typically, transferring coins to an exchange indicates a selling intention.
Even more alarming, the data shows that many 'sleeping' old DOGE are also starting to move, indicating that it may not just be one big holder wanting to cash out. The market reaction is quite clear: there are more bearish than bullish positions in futures, and the price is currently stuck around $0.17, feeling like it might break down at any moment.
Although some analysts suggest that DOGE might be 'building a base' and looking bullish in the long term, even predicting an 84% increase, the recent actions of the whale selling are too evident. With a $35 million sell order hitting the market, can it handle the pressure? The short-term pressure is indeed quite significant.
The question now is whether DOGE is 'sitting down to gather strength' for a rebound, or if it really is going to 'lie flat' and drop? We need to closely monitor the market to see what the big holders intend to do. That's how the crypto space works; when big money moves, small retail investors need to be cautious!
Next, I will continue to lay out strategic orders. Instead of blindly exploring and missing the best entry and exit points leading to holding losses, it's better to follow this approach and join in with those who agree.
