Dogecoin Faces a Major Crisis! Musk 'Lets Go', Big Players Flee
Oh my, Dogecoin has really taken a big tumble this time! The previously supportive Musk seems to have lost interest and turned away. Meanwhile, those big players holding a lot of Dogecoin are rushing to 'sell off', fleeing faster than anyone else.
And that's not all, recently someone dumped 100 million Dogecoins all at once, which is truly shocking! After this wave of actions, Dogecoin's price has plummeted like it hit an emergency brake, heading straight down, and it's about to return to the 'pre-liberation' levels of the beginning of the year.
The quietness of the Dogecoin market is not just a little bit. According to on-chain data, one of its key indicators has fallen below the long-term average, which is not a good sign. Reflecting on previous situations like this, Dogecoin's price has always plummeted tremendously.
But on the flip side, Dogecoin is not without a chance of recovery. Recently, there have been rumors that Dogecoin might launch an exchange-traded fund to attract more large institutions to enter the market. If this happens, the Dogecoin market might just see a glimmer of hope, preventing the big players' exit from being so brutal.
However, this is just a rumor after all; how things will develop still depends on the future situation. Can Dogecoin get out of its predicament and regain its former glory? Let's wait and see!
