The Dogecoin market is witnessing a significant decline in activity among major investors, affecting the cryptocurrency's price fluctuations.
Decline in Major Holders' Activity
Analysis of data shows that wallets holding between 10 to 100 million DOGE have been reducing their positions since mid-July, with the total amount on these wallets reaching 24.19 billion, indicating a general cooling of interest from large investors.
Current Dogecoin Positions
DOGE's price reached above $0.27 in July but has stabilized around $0.21 since then. According to analyst Ali Martinez, the price dynamics indicate a lack of significant movements and the market does not have upward pressure from the whales.
Prospects for Dogecoin
The current market situation does not suggest changes in the near future. Without activity from major holders and low liquidity, DOGE's price may continue to remain within the current range without significant fluctuations. For regular holders, this may be a positive sign due to the lack of pressure from whales.
The situation in the Dogecoin market remains uncertain, and the absence of large investors' activity may hinder its further growth.
