{"id":606172,"date":"2024-05-02T13:13:27","date_gmt":"2024-05-02T13:13:27","guid":{"rendered":"https:\/\/wncen.com\/?p=606172"},"modified":"2024-07-12T05:15:06","modified_gmt":"2024-07-12T05:15:06","slug":"whales-dive-in-but-dogecoin-price-sinks-20-whats-going-on","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/whales-dive-in-but-dogecoin-price-sinks-20-whats-going-on\/","title":{"rendered":"Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On?"},"content":{"rendered":"

Shiba Inu-faced darling of the 2021 memecoin fever, Dogecoin (DOGE), has been shivering in the present crypto winter. Originally a symbol of retail investor excitement, DOGE has dropped over 70% from its sky-high peak, leaving its future clouded in doubt.<\/span>
\n<\/span><\/p>\n

Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom<\/a><\/div>\n

DOGE Feels The Crypto Frost<\/strong><\/h2>\n

While the heavyweight champion of the crypto scene, Bitcoin, steals headlines with its latest wobble, memecoins like DOGE<\/a> have suffered greatly.<\/span> Unlike the split expert views on Bitcoin, DOGE is clearly pessimistic.
\n<\/span><\/p>\n

At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss<\/a> in the last seven days, data from Coingecko shows.<\/p>\n

\"\"<\/p>\n

Dogecoin price action in the last 30 days. Source: Coingecko<\/a><\/pre>\n
Is DOGE A Canary In The Crypto Coal Mine?<\/strong><\/h2>\n
Some observers see DOGE’s challenges as a canary in the coal mine for the whole crypto industry. They claimed that if even a historically high-flying memecoin like Dogecoin cannot hang onto profits, it calls major questions about risk appetite in the crypto industry overall.<\/span>
\n<\/span><\/p>\n
<\/p>\n
Dogecoin market cap currently at $18 billion. Chart: TradingView.com<\/a><\/pre>\n
Whales Accumulating DOGE: A Glimmer Of Hope?<\/strong><\/h3>\n
For the dethroned meme monarch, nevertheless, a faint hope flickers. On-chain data points to possible accumulation by affluent investors based on a spike in big wallet purchases of DOGE.<\/span> This “contrarian” behavior might indicate that some whales watch Dogecoin derivatives using Coinglass or other platforms and think the coin is underpriced and ready for a rebound.
\n<\/span><\/p>\n
\"\"Source: Coinglass<\/pre>\n
Popular bitcoin data source Coinglass provides insights into elements possibly impacting the decisions of the whales.<\/span> These investors might find a chance to purchase DOGE at a discount by examining Coinglass’s indicators such open interest, funding rates, and liquidations.
\n<\/span><\/p>\n
Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch<\/a><\/p>\n
In a related vein, well-known blockchain tracker Whale Alert has claimed that a DOGE whale set two significant transactions in one day.<\/span> In the first transaction, some 150,000,000 Dogecoins were moved; in the second, 76,316,694 DOGE were transferred for a total of roughly 226 million DOGE. The meme coin was valued in fiat money at the time around $40 million.
\n<\/span><\/p>\n
\n
\ud83d\udea8 150,000,000 #DOGE<\/a> (21,281,922 USD) transferred from #Robinhood<\/a> to unknown wallethttps:\/\/t.co\/7U1CEfr2ZT<\/a><\/p>\n
\u2014 Whale Alert (@whale_alert) April 29, 2024<\/a><\/p><\/blockquote>\n
Can Dogecoin Thaw The Crypto Winter?<\/strong><\/h3>\n
For DOGE, the next weeks will prove vital. The DOGE rise may be sparked by the restoration of favorable social media sentiment combined with ongoing accumulation by whales maybe employing Coinglass for market analysis. DOGE’s summer could be spent shivering in the doghouse, too, should the downturn in the larger market continue.<\/p>\n
Featured image from Pixabay, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Shiba Inu-faced darling of the 2021 memecoin fever, Dogecoin (DOGE), has been shivering in the present crypto winter. Originally a symbol of retail investor excitement, DOGE has dropped over 70% from its sky-high peak, leaving its future clouded in doubt. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While the heavyweight champion of the crypto scene, Bitcoin, steals headlines with its latest wobble, memecoins like DOGE have suffered greatly. Unlike the split expert views on Bitcoin, DOGE is clearly pessimistic. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some observers see DOGE’s challenges as a canary in the coal mine for the whole crypto industry. They claimed that if even a historically high-flying memecoin like Dogecoin cannot hang onto profits, it calls major questions about risk appetite in the crypto industry overall. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? For the dethroned meme monarch, nevertheless, a faint hope flickers. On-chain data points to possible accumulation by affluent investors based on a spike in big wallet purchases of DOGE. This “contrarian” behavior might indicate that some whales watch Dogecoin derivatives using Coinglass or other platforms and think the coin is underpriced and ready for a rebound. Source: Coinglass Popular bitcoin data source Coinglass provides insights into elements possibly impacting the decisions of the whales. These investors might find a chance to purchase DOGE at a discount by examining Coinglass’s indicators such open interest, funding rates, and liquidations. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a related vein, well-known blockchain tracker Whale Alert has claimed that a DOGE whale set two significant transactions in one day. In the first transaction, some 150,000,000 Dogecoins were moved; in the second, 76,316,694 DOGE were transferred for a total of roughly 226 million DOGE. The meme coin was valued in fiat money at the time around $40 million. \ud83d\udea8 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps:\/\/t.co\/7U1CEfr2ZT \u2014 Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? For DOGE, the next weeks will prove vital. The DOGE rise may be sparked by the restoration of favorable social media sentiment combined with ongoing accumulation by whales maybe employing Coinglass for market analysis. DOGE’s summer could be spent shivering in the doghouse, too, should the downturn in the larger market continue. Featured image from Pixabay, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":606198,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,6664,1785,7,85699],"class_list":["post-606172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-crypto","tag-doge","tag-dogecoin","tag-memecoin"],"acf":[],"yoast_head":"\nWhales Dive In, But Dogecoin Price Sinks 20%: What's Going On?<\/title>\n<meta name=\"description\" content=\"Shiba Inu-faced darling of the 2021 memecoin fever, Dogecoin (DOGE), has been shivering in the present crypto winter. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On?","url":"http:\/\/wncen.com\/news\/whales-dive-in-but-dogecoin-price-sinks-20-whats-going-on\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/whales-dive-in-but-dogecoin-price-sinks-20-whats-going-on\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/A_4547c6.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/A_4547c6.jpg?fit=960%2C549"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","doge","dogecoin","memecoin"],"dateCreated":"2024-05-02T13:13:27Z","datePublished":"2024-05-02T13:13:27Z","dateModified":"2024-07-12T05:15:06Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/whales-dive-in-but-dogecoin-price-sinks-20-whats-going-on\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/whales-dive-in-but-dogecoin-price-sinks-20-whats-going-on\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/A_4547c6.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/A_4547c6.jpg?fit=960%2C549\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"doge\",\"dogecoin\",\"memecoin\"],\"dateCreated\":\"2024-05-02T13:13:27Z\",\"datePublished\":\"2024-05-02T13:13:27Z\",\"dateModified\":\"2024-07-12T05:15:06Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/A_4547c6.jpg?fit=960%2C549","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606172"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=606172"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/606198"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}