Dogecoin’s price is stuck below $0.17, and things aren’t looking great. Big investors are being super cautious.
Reduced Whale Activity
Experts have noticed a big change in how large Dogecoin investors (called “whales”) are behaving. For the past few days, these whales haven’t been buying or selling much. This lack of activity could mean less market liquidity and make it harder to predict where the price will go next.
What Happened Before the Silence?
Before this quiet period, whales were busy selling off huge amounts of Dogecoin. One expert reported that over 1.32 billion DOGE were sold in just two days! This selling caused a lot of concern about whether the price could stay up. Interestingly, while the big players were selling, smaller investors were buying. One day, they bought over 80 million DOGE! This suggests some people still believe in Dogecoin’s potential.
Could Dogecoin Still Go Up?
Even though the whales are taking a break, some analysts think Dogecoin could still see a big price increase. One analyst points to past trends that led to huge price jumps, suggesting a potential 200-300% increase, possibly pushing the price above $0.73. This is based on past performance, and it’s not a guarantee, of course.
