In the midst of the fluctuation in the crypto currency market, the Altcoin loved by Turks Dogcoinhigh -volume sales transactions of whales are remarkable. Whales selling 1.32 billion coins in the last 48 hours signal the decline in the risk appetite. These high -volume transactions, which put pressure on the price, caused a 4 percent decrease in the price of Dogecoin.
High -volume sales are worried about investors in Dogecoin
Volatility in the crypto money market recently showed itself on the Dogecoin side. In particular, high -amount sales by major investors called whales have adversely affected the sensitivity in Altcoin. 1.32 billion pieces DogIn a short time, the change of hands is considered as a sign of uneasiness by both individual investors and market observers.
Investors read this wave of sales as a reflection of risk avoidance strategies. This tendency puts pressure on the price of popular Altcoin, and paves the way for a gradual decline in interest in Dogecoin.
According to analysts, such mobility is a harbinger of sudden direction changes in the market. In particular, it is seen that investors who try to act carefully are re -reviewing their positions and turned to more defensive strategies.
Technical indicators give an alarm for altcoin
The price of Dogecoin was traded for $ 0,1467 on the last trading day and approached the remarkable levels in technical analysis. Analyst Ali MartinezAccording to October 2023, the rising trend line has been a critical support zone for Dogge with 61.8 percent Fibonacci retreat at the level of 0.13 dollars. The possibility of a deeper drop in the event that this level is broken in the lower direction is on the table.
In terms of technically, such support points are important reference points that directly affect the purchase-sale decisions in the market. It is important for investors to act more carefully at these levels in terms of minimizing possible damages. In addition, the decrease in a 1.12 percent decrease in the proportion of investors receiving short -selling investors in the futures market in the futures market shows that market participants adopt the waiting and gor strategy.
According to experts, the short -term price movements for Dogecoin are quite uncertain for Dogecoin. For this reason, investors should closely follow Altcoin’s price movements and be prepared against possible support zone breaks.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
