Dogecoin (DOGE) Price at Risk: Can the $0.15 Support Hold?
Dogecoin price and DOGE whale trading | Into the Block

On the eve of the April 19 halving, Dogecoin whale investors executed 596 trades, but the coin has been in the doldrums ever since. According to the latest Dogecoin network data, this number has fallen to 398 large transactions confirmed on April 25th, representing a 34% decline in whale trading activity.

As observed since the halving on the Dogecoin network, long-term declines in whale trading often negatively impact price movements for a variety of reasons.

First, whale trading provides much-needed market liquidity. Therefore, a decline exposes the native coin to the risk of downside volatility, especially if traders sell large positions.

Furthermore, the absence of whale trading signals a loss of confidence among institutional investors, causing a shift in negative sentiment among small retail investors and swing traders, who may follow suit and sell their holdings. be.

This knock-on effect could further exacerbate the selling pressure and contribute to a negative feedback loop, pushing Dogecoin’s price lower in the coming days.

DOGE Price Prediction: $0.15 support is at risk

At the time of writing on April 26th, DOGE price was trading above $0.15, down 8.4% on a weekly basis. Judging from the volatile sentiment of whale investors after the Bitcoin halving, Dogecoin (DOGE) price is expected to see an imminent decline below the key support level of $0.15.

IntoTheBlock’s In/Out of the Money Around Price (IOMAP) data, which groups existing DOGE holders according to entry price, also supports this pessimistic Dogecoin price outlook.

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