The post Dogecoin News: Dogecoin Whales Shift $74M Worth Of DOGE To Coinbase, Sell Off Incoming? appeared on BitcoinEthereumNews.com.

This week in crypto is closing off with a 1.49% growth in global market cap, with trading volume hitting $3.31 trillion. Similarly, there’ve been rebounds for major market players like Bitcoin ($95,000) and Dogecoin price ($0.33) at press time. However, there seems to be a cautious sentiment among large asset holders, with most crypto whales dumping their assets. Most notable has been Dogecoin whales recently shifting $74M worth of DOGE to Coinbase. This reaction to a seemingly growing market leaves concerns on the minds of many market participants. Is a sell-off incoming? Or is there a more promising prospect to consider?  Whales Shift $74M Worth of DOGE to Coinbase; Dogecoin Price Reacts On Friday, on-chain tracking platform Whale Alert revealed two separate whale activities involving a Dogecoin shift and possible sales of a combined $74 million worth of DOGE tokens. Further on-chain analysis shows that both transactions happened simultaneously and shifted the tokens to the same exchange, Coinbase. This discovery raised more concerns across the market, especially within the Dogecoin community.  Despite the Dogecoin price exhibiting positive momentum recently, the meme coin continues to trade around its crucial support. Dogecoin price observers noticed a consolidation between the $0.3435 and $0.3085 price zones in the days leading to its January 3 breakout. Following this, Dogecoin price successfully created a support zone from its initial resistance. Experts believe that the Dogecoin price reaction in the demand area would decide its next price action. According to analysts, this meme coin could either bounce from the support zone to retest its January 4 bullish momentum around $0.3988 or plunge deeper to the 0.618 Fibonacci level at $0.2730. At the time of writing, DOGE continues to trade at $0.3353, indicating a 3% 24-hour rise in Dogecoin price. While this uncertainty lingers, market analysts might have…

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Filed under: News - @ January 12, 2025 11:20 pm