Popular meme-based cryptocurrency Dogecoin (DOGE) has just seen a dramatic downturn that makes investors wonder about its future course.
Driven by market volatility of Bitcoin (BTC), DOGE’s value dropped by around 20% over the past week. DOGE currently trades at $0.2551; its market value is $38.09 billion and its trading volume is $3.42 billion.
Whale Accumulation Signals Investor Trust
On-chain data shows that despite the current downturn, big investors—often referred to as “whales”—have grabbed the chance to amass significant amounts of DOGE.
Whales have specifically accumulated 750 million units of the meme coin during this downturn. Usually preceding big price swings, this large accumulation shows a strong conviction in the long-term possibilities of Dogecoin.
The current price of $0.25 is an ideal opportunity for investors who are ready to ride the wave of a possible recovery, according to some analysts, while others think DOGE may drop to about $0.17.
Whal
We współpracy z: https://www.newsbtc.com/dogecoin-2/final-dip-dogecoin-correction-could-precede-a-record-surge-analyst/
