Have Traders Moved Past Dogecoin? Transactions Plunge 98% Since June
Data shows that Dogecoin transactions have dropped more than 98% since June, a sign that investors have lost interest in the meme coin. Dogecoin 7-Day Transaction Count Has Dropped To Just 37,300 According to data from the market intelligence platform IntoTheBlock, activity on the DOGE network has really slowed down recently. The metric of interest here is the total number of transactions that the Dogecoin blockchain is observing every day. When this indicator has a high value, it means that the investors are making a large amount of moves on the network right now. Such a trend implies....
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Dogecoin, which began as a meme cryptocurrency, has demonstrated that it can compete successfully in the crypto market. Although Dogecoin is still the biggest meme crypto, on-chain data points to the crypto losing steam among whale investors. According to data from IntoTheBlock, the number of Dogecoin transactions valued at $100,000 or more has declined sharply over the past few months. Data also shows that the number of daily transactions has been on a steady decline since May. Related Reading: Here’s How Sam Bankman-Fried Allegedly Used Customer Funds On Alameda Research Dogecoin Whale....
Dogecoin continues to plunge as it failed to retain support at the $0.08 level. The bad news is that the Dogecoin price can still fall further down as the bears appear to have bypassed the triangular structure that has latched ferociously around it the previous month. With the structure breached, the bears could pump in more capital to earn more from the DOGE plunge. The bearish candle is now falling head-first which boosts the confidence of many traders to go all-in with the bearish stance. Suggested Reading | Dogecoin Market Cap Shed $6-B Last Month – Will Bearish Pressure Continue....
The Dogecoin price recover came as a welcome sight to investors after the meme coin struggled around $0.09 for a while. Naturally, the move in the price has prompted movement among Dogecoin investors and the whales are not left out of this. As the price rebounds, these whales have increased their activity, moving billions of DOGE to and from their wallets. However, the net flow of these whale wallets paint a bearish story for the DOGE price. Dogecoin Whales Move Over $500 Million The large whale transactions tracked by the IntoTheBlock platform are transactions carrying $100,000 or more.....
In the past week, the Dogecoin price has jumped more than 25%, allowing it to challenge Nxt for a top-five market cap ranking. CCN examines this altcoin price movement to help investors make informed trading decisions. Dogecoin enthusiasts have "much" to celebrate and this fervor has moved into the Dogecoin price, as well. Dogecoin Price Continues to Climb. Investors have become very bullish on Dogecoins. One month ago-on August 25-the Dogecoin price was a lowly 22 satoshis-and the once-great altcoin risked losing its top-ten market cap ranking. However, the community remained resilient,....
Many recent articles have appeared in important publications such as MarketWatch reporting that Dogecoin is surpassing Bitcoin in the total number of transactions per day. Following is the now famous chart of the Dogecoin versus Bitcoin transaction volume as reported by BitInfoCharts: Dogecoin total transactions outpace Bitcoin total transactions. This data, and the reporting of it was responsible for a sizable runup in Dogecoin values from less than 0.000001 BTC to more than 0.000002 BTC Per DOGE. Looking into the data at BitinfoCharts for a more detailed analysis we find that the total....