Dogecoin Price Slides 18% But Whale Activity Suggests Bullish Outlook

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Dogecoin Price Slides 18% But Whale Activity Suggests Bullish Outlook - NewsBTC

Quick Summary:

Dogecoin Price Remains Bullish On-chain analytics firm Santiment has provided a detailed breakdown of Dogecoin’s activity via X today, indicating robust participation from large-scale holders, known as whales, in the cryptocurrency’s network.“Dogecoin has retraced -18% from its top back on Saturday.

Martinez points out that DOGE might be nearing a MACD bullish crossover on the weekly chart, a potential indicator of upcoming price increases.“The last two times Dogecoin DOGE had a MACD bullish crossover on the weekly chart, it rallied 90% and 180%, respectively.

Over the past week, there’s been a 72% increase in new DOGE addresses, and just yesterday alone, 19,630 new DOGE addresses were created! ” The crypto analyst further bolsters the bullish sentiment surrounding Dogecoin with a technical analysis.