Dogecoin Price Declines Amid Whale Activity Drop
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 2h ago- Price Decline Trend: Dogecoin has declined 4.19% in the past 24 hours, currently trading at $0.1211, continuing a trend of approximately 4.40% loss over the past week, indicating cautious market sentiment.
- Whale Transaction Drop: Over the past four weeks, large transactions on the Dogecoin network exceeding $1 million plummeted from 109 to just 6, marking a staggering 94.6% decline, suggesting major holders are reducing large-scale movements, which may lead to lower liquidity.
- Price Stability and Volatility Risk: While Dogecoin has stabilized in the $0.121 to $0.124 range, the drop in whale activity could reduce liquidity for large trades, increasing price volatility if demand suddenly spikes.
- Potential Bull Cycle: Analysts project that Dogecoin may be entering Cycle 3, with historical data showing previous cycles achieved approximately 60x and 215x gains, and if conditions align, this cycle could yield over 4,100% returns, pushing prices above $1.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
