Dogecoin Reaches 5M Holders But Few Hold 80% Of Supply
Portfolio Pulse from Mehab Qureshi
Dogecoin (DOGE) has surpassed 5 million holders, with a significant increase in active addresses and confirmed transactions. However, less than 5,000 addresses control over 80% of DOGE's supply. The market capitalization of DOGE has increased by 14% this month, nearing $11 billion. Analyst Tony 'The Bull' suggests a potential rally based on the Parabolic Stop and Reverse (SAR) indicator, which previously preceded a 23,000% rally.
November 28, 2023 | 11:38 am
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Dogecoin's holder count surpasses 5 million with a 14% increase in market cap this month. Analyst Tony 'The Bull' predicts a rally based on technical indicators.
The increase in Dogecoin holders and market cap, along with the technical analysis by Tony 'The Bull', could lead to increased investor interest and a potential price rally in the short term. However, the concentration of holdings among a few addresses poses a risk of price manipulation.
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IMPORTANCE 80
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