Giant Whale Dumping! 200 Million Dogecoin Headed to Exchange, Are Retail Investors Panicking?
DOGE has recently been quite lifeless, just lingering around the 0.16-0.2 range, unable to rise or fall, leaving people feeling uneasy. Why so bearish? A heavy bombshell has arrived: a super large holder has directly dumped a total of 200 million DOGE—worth over 35 million USD!—into the OKX exchange! This move is as clear as day, it's all about selling!
The large holder moved the coins from their safe to the exchange, which is just like us putting our stock on the shelves, convenient for a quick exit! Even more alarming, many old DOGE wallets that have been dormant for 800 years are also coming back to life, which is usually a signal that big holders have agreed to run away together. The market is scared stiff!
Looking at the futures market betting on the future, half of the people are betting that DOGE will drop, and confidence is shattered all over. The price is firmly pinned at the crucial bottom line of 0.17 USD, and it looks like it’s about to collapse. Although some people are stubbornly insisting that DOGE is about to make a big move and build a bottom, claiming it can soar in the long run with plenty of coins still held by big holders. But! The current blatant dumping by this giant whale is just too eye-catching! With over 20 million RMB worth of goods being dumped, can the market absorb it? I think it’s questionable! This is like a big rock rolling down before an avalanche; how can the small fish not feel scared? Short-term pressure is off the charts!
Large holder dumping → Exchange overflowing with goods → Retail investors trembling... Will DOGE take a crouch to build up strength for a big move, or will it just lie flat and give up? I think it’s very doubtful!
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