The entire cryptocurrency market was painted red, and the OG meme cryptocurrency Dogecoin (DOGE) wasn’t spared either. The asset’s journey towards $0.20 was disrupted as it dipped to a low of $0.106. At press time, the asset was trading around the same level, with a 4.11% drop over the past 24 hours.
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Amidst this, IntoTheBlock revealed that Dogecoin whales were on a buying spree. These big buyers have purchased over 2 billion DOGE in the last week. This accumulation is worth $200 million based on the asset’s current price.
This implies that major Dogecoin investors are putting their money on the meme coin’s potential recovery in a long-term manner. This indicates that they believe there is a chance for a significant increase. In the past, whale investments in Dogecoin have frequently signaled an impending price spike.
In addition, the community sentiment of Dogecoin remained positive. CoinMarketCap’s Community Sentiment revealed that 80% of 10762 individuals believe that DOGE will witness a spike in its price. 20% of the crowd were being bearish and were hoping for a drop in price.
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Dogecoin Mid-October Prediction
Data from Changelly revealed that the asset will remain rather dull over the next couple of days. The firm further believes that DOGE will trade around $0.107121 on October 15. It looks like the major spike in large transactions has barely made any difference to the price of the meme coin.
Despite this, more than 50% of the asset’s holders were seen in a profitable zone. To be precise, 69% of holders which translated to 244,000 addresses were reaping profits.
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