Large Dogecoin Holders Take Advantage Of Price Recovery To Dump Their Bags
In the space of one week, the price of Dogecoin has already pumped tremendously. The meme coin is already up more than 150% in a 7-day period to reach a new six-month high of $0.16. During this time, investors have no doubt taken advantage of the situation to actually sell some of their coins for […]
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Shiba Inu (SHIB) is still on a bull trend after its meteoric rise last week. The asset had rallied 266% and by the time the rally reached its peak, SHIB had grown over 400% in a matter of hours. Its sudden rise in price has been attributed to a number of things. One of the most prominent being the tweet by Elon Musk of his pet Shiba Inu which he had gotten last month. However, the price recovery had occurred at a point where the asset had been seeing massive amounts of coins dumped that led to a dip in its price. SHIB had hit a new six-month high at this point and sell pressures had....
The market crash has been especially brutal for meme coins such as Shiba Inu and Dogecoin. These coins had recorded impressive numbers in the bull runs of 2021 but the real test had come once the market had begun to decline. This meant that most have lost a large percentage of their all-time high values that were hit during the bull run. Along with this, the profitability of the meme coins had declined and has seen most investors holding bags of losses. Only 14% In Profit According to data from IntoTheBlock, the number of Shiba Inu investors who are making money at current prices has....
On-chain data shows the Dogecoin whales have gone on a buying spree while the memecoin’s price has declined in the last 24 hours. Dogecoin Whales Have Increased Their Holdings During The Past Day As pointed out by analyst Ali Martinez in a post on X, the Dogecoin whales have participated in net accumulation in the last 24 hours. The on-chain metric of relevance here is the “Supply Distribution” from the analytics firm Santiment which tells us about the amount of DOGE that a given wallet group is currently holding. Related Reading: Bitcoin Forming A Signal That’s Usually....
Dogecoin is the hottest crypto of 2021, taking a major bite out of Bitcoin and Ethereum’s gains this year. These astronomical numbers the altcoin has done this year has sucked in more and more investors. However, anyone who didn’t have their DOGE bags packed previously could be in for some pain instead of “much wow.” […]
Dogecoin whales are starting to increase their holdings in what is a general uptick in activity on the Dogecoin blockchain. According to the latest on-chain data, addresses with large Dogecoin balances saw a remarkable surge in their holdings, with an approximate 960% increase occurring within just 24 hours. This accumulation by large holders coincides with […]