The post Dogecoin traders, is the dip to $0.40 a risk or an opportunity for you? appeared on BitcoinEthereumNews.com.

DOGE whales are playing a textbook market manipulation game, driving the memecoin into a volatile slump. With the stakes higher than many might expect, caution is key. Just a month ago, Bitcoin [BTC] shattered records, hitting 100K for the first time. Since then, the coin has sustained the uptrend, turning the market green as investors raced to diversify their portfolios. Memecoins had their moment, but the spotlight quickly shifted as altcoins seized control. Even Dogecoin [DOGE], the top memecoin, struggled to keep up, gaining just 5% in the last 30 days. Now, DOGE is flirting with last month’s opening price of $0.43410, after two failed attempts to break $0.50. $0.50 is proving to be tough resistance, but whales are pushing hard to break through. The big question is: Are these whales aiming for a long-term push for DOGE, or will they keep manipulating meme-tokens, leaving DOGE stuck in its volatile slump? Big hands are manipulating DOGE’s price It’s no surprise that the ‘Trump pump’ has pushed many coins back onto a bullish track, offering much-needed relief to large HODLers who’ve been stuck as their investments stagnated year after year.  DOGE was no exception. For the past three years, its price remained trapped in a tight range between $0.06 and $0.15.  So, when it posted daily gains of over 10% during the first week of the election, it was clear that these HODLers would finally cash in on the profits they’d been waiting for. Among them were big players with sizable DOGE holdings, who began transferring significant amounts of tokens back into exchanges.  This flurry of activity coincided with a long red candlestick on the daily chart, showing an 11% loss in a single day – marking the third time DOGE failed to break past the $0.48 resistance. But this may…

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Filed under: News - @ December 14, 2024 11:08 pm