• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Whales' Interest in Dogecoin Raises Growth Expectations

user avatar

by Giorgi Kostiuk

a year ago

The popular cryptocurrency Dogecoin experienced a drop to $0.30 but maintains potential interest thanks to investor and whale activity.

Current State of Dogecoin

Dogecoin, the largest and most popular memecoin, experienced a drop to the $0.30 level after a significant rally. Despite the price drop, interest in DOGE remains high, especially from investors and whales.

DOGE Futures Data

Coinglass data shows that the DOGE futures market reached a new record in open interest. The number of active contracts increased from 7.50 billion to 10.35 billion DOGE, indicating new money inflows and potential future volatility.

The increase in open interest indicates new money entering DOGE, potentially indicating a rise and upcoming volatility.None

Experts' Predictions

Market analyst Omkar Godbole expressed optimism about a rise in Dogecoin in the coming weeks, predicting the price to reach $0.5. Using historical data and the 50-day SMA, he noted DOGE’s best performance is historically in January with an average return of 85%.

DOGE has broken above the closely watched 50-day SMA, signaling a potential uptrend and the disappearance of a discount on Coinbase compared to Binance.None

Despite Dogecoin's price drop, new data and expert predictions provide hope for the cryptocurrency's growth in the near future, supported by investor backing and whale activity.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Institutional Ethereum Accumulation Intensifies, Tightening Supply

chest

Institutional investors are increasingly accumulating Ethereum, tightening supply and impacting market liquidity.

user avatarFilippo Romano

TJM Expands into Digital Assets with Ripple's Support

chest

The partnership allows TJM to extend its coverage into digital assets, integrating them alongside traditional products.

user avatarFilippo Romano

Ripple Invests in TJM to Enhance Institutional Trade Execution and Clearing

chest

Ripple has made a strategic investment in TJM to improve institutional trading and clearing operations using Ripple Prime infrastructure.

user avatarTomas Novak

Ripple Prime Strengthens Execution and Clearing Services for TJM

chest

The expanded partnership between Ripple and TJM focuses on improving execution, clearing stability, and capital efficiency for institutional investors.

user avatarEmily Carter

US Treasury Secretary Raises Concerns Over EU's Trade Response

chest

US Treasury Secretary Bassett expressed skepticism about the EU's ability to counter Trump's Greenland Tariffs, highlighting potential trade tensions and perceived inefficiencies in EU decision-making.

user avatarMaya Lundqvist

Challenges in Activating EU's Anti-Coercion Instrument

chest

The EU's Anti-Coercion Instrument, which came into force in December 2023, has yet to be activated against major trading partners such as the US, highlighting procedural complexities and a historical reluctance to mobilize trade defense mechanisms swiftly.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.