Dogecoin Whale Transactions Surge 93% As 7% Price Drop Leaves Traders Unfazed: 'Strong Times Ahead'
Portfolio Pulse from Khyathi Dalal
Dogecoin (DOGE) sees a 93% surge in whale transactions and a 13.5% increase in daily active addresses despite a 19% price drop over the past week. Analysts remain optimistic, citing its break from a macro downtrend and potential for real-world use, especially with Tesla's upcoming DOGE payment option. Large transaction volumes and active addresses are up, with 80.6% of holders still in profit. The community is watching closely as DOGE approaches a critical support zone.
March 18, 2024 | 8:54 pm
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POSITIVE IMPACT
Dogecoin's whale transactions and active addresses are up, signaling strong investor engagement despite a recent price drop. Analyst optimism and Tesla's acceptance of DOGE as payment could positively influence its price.
The surge in whale transactions and active addresses indicates a strong investor interest in Dogecoin, even amid a price drop. Analysts' optimism, based on technical analysis and real-world adoption through Tesla's payment option, suggests a potential for price recovery. The significant percentage of holders still in profit despite the recent dip further supports the positive outlook.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100