Why dogecoin going down

Dogecoin price live: What is the current price of Dogecoin? Should you invest in Dogecoin?

Moreover, there are nine whale addresses in the Dogecoin network. These whales are particularly noteworthy as each of them owns at least 1% of the total Dogecoin supply. Which cumulatively accounts for nearly 43% of it. Dogecoin dropping today Over the years, Dogecoin has been known for its community-driven nature and its active presence on social media platforms. It has sponsored numerous charitable initiatives and gained attention through celebrity endorsements and viral trends. While Dogecoin started as a fun and light-hearted project, it has gradually evolved into a significant player in the cryptocurrency market.

Why dogecoin is going down today

Doginals, or DRC-20 tokens (Bitcoin BRC-20 equivalent tokens), on Dogecoin have seen an inflow of activity. The top 10 DRC-20s by market cap are cumulatively valued at nearly $100m and are owned by tens of thousands of holders. Ticker dogi is the top Doginal by market cap with $70m in value as of December 12, 2023. In the last three weeks, several Doginals saw their supplies fully minted, underscoring that there is at least some notable demand for these digital collectibles and fungible tokens. Dogecoin Price Forecast  Of course, risks with such a strategy are pronounced, and today's price action is the latest indication that near-term volatility is likely to remain present in the crypto space. Whether it's macro concerns or various technical issues driving bearish sentiment, when the tides turn, they turn in a hurry.

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Increased buying pressure above current levels, therefore, could see Dogecoin price flip the zone into a bullish breaker, as it extends the gains to the $0.10000 psychological level. Confirmation of such a move will be seen once the price records a decisive daily candlestick close above the $0.09198 midline. Recommended News The remaining share of Dogecoin, amounting to about 35.22%, is held by small investors. These are addresses that each hold less than 0.1% of the Dogecoin tokens and are classified as retail investors.

Dogecoin dropping today

Bitcoin inched up 0.04% in the last 24 hours to US$29,393 at 4 p.m. in Hong Kong, bringing its weekly gains to 1.24%, according to CoinMarketCap data. At the same time, the world’s largest cryptocurrency’s market capitalization dropped 0.03% to US$571.67 billion. Get crypto news straight to your inbox-- 18+ and Gambling: Online gambling rules vary by country; please follow them. This website provides entertainment content, and using it means you accept out terms. We may include partnership links, but they don't affect our ratings or recommendations.