{"id":600966,"date":"2024-04-02T19:00:50","date_gmt":"2024-04-02T19:00:50","guid":{"rendered":"https:\/\/uniquehot.com\/?p=600966"},"modified":"2024-04-02T12:17:55","modified_gmt":"2024-04-02T12:17:55","slug":"dogecoin-major-roadblock","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-major-roadblock\/","title":{"rendered":"Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree"},"content":{"rendered":"

The Dogecoin (DOGE) price<\/span><\/a> looks at risk of further declines as on-chain data show that the <\/span>meme coin\u2019s largest holders<\/span><\/a> are securing profits. This follows DOGE\u2019s recent price surge, which saw the crypto token rise to a <\/span>new three-year high<\/span><\/a> of $0.22.\u00a0<\/span><\/p>\n

Dogecoin Witnesses Wave Of Profit-Taking<\/h2>\n

Data<\/span><\/a> from the <\/span>market intelligence platform Santiment<\/span><\/a> shows a drop in the number of Dogecoin holders holding between 10 million and 100 million DOGE tokens. This suggests that some holders have offloaded their tokens to secure profits from DOGE\u2019s recent price gains.\u00a0<\/span><\/p>\n

Related Reading: Hedge Fund Manager Predicts When Bitcoin Price Will Reach $150,000<\/a><\/div>\n

This wave of profit-taking looks to have become a pattern among <\/span>DOGE holders<\/span><\/a>, as further data from Santimemt showed that these whales also instantly booked their profits just after DOGE enjoyed an upward trend earlier in March. Bitcoinist even <\/span>reported<\/span><\/a> then of a Dogecoin whale that offloaded 86 million DOGE tokens on the market.\u00a0<\/span><\/p>\n

Considering the magnitude of these <\/span>whales\u2019 holdings<\/span><\/a>, their actions are bound to exert much selling pressure on the DOGE token. That explains why the meme coin has steadily declined since rising to as high as $0.22 last week. Interestingly, Santiment, in an X (formerly Twitter) <\/span>post<\/span><\/a>, had recently warned of an impending sell-off by these whales.\u00a0<\/span><\/p>\n

The crypto analytics platform noted how major dormant whales were moving their Dogecoin holdings back into circulation, which usually suggests they are getting ready to sell. Meanwhile, members of the DOGE community <\/span>seem unfazed<\/span><\/a> by the recent price dip, with many of them seeing it as an opportunity to accumulate more of the meme coin.<\/span><\/p>\n

The Whales Will Soon Return\u00a0\u00a0<\/span><\/h2>\n

Dogecoin whales<\/span><\/a> are expected to return and position themselves again once this wave of profit-taking by them is done. Besides taking profits, <\/span>these whales<\/span><\/a> also see this period as an opportunity to invest in DOGE at the market bottom and in anticipation of future price gains.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Halving Inches Closer With Less Than 2,900 Blocks Left<\/a><\/div>\n

Despite this recent correction, there looks to be a lot of bullish momentum on the largest meme coin by market cap, especially with analysts <\/span>predicting<\/span><\/a> that it could rise to $1 in this market cycle. In the short term, Dogecoin is also expected to make another run soon, with significant events coming up for the meme coin this April.<\/span><\/p>\n

The foremost US exchange, Coinbase<\/span><\/a>, is set to launch Dogecoin futures for its institutional clients on April 29. This move could cause new money to flow into the meme coin\u2019s ecosystem and spark a price surge. DOGE Day is also happening on April 20, which will put the spotlight on the crypto token and possibly impact its price positively.\u00a0<\/span><\/p>\n

At the time of writing, DOGE is trading at around $0.18, down over 6% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n

\"Dogecoin<\/p>\n

DOGE price falls to $0.18 | Source: DOGEUSDT on Tradingview.com<\/a><\/pre>\n
Featured image from Bankrate, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The Dogecoin (DOGE) price looks at risk of further declines as on-chain data show that the meme coin\u2019s largest holders are securing profits. This follows DOGE\u2019s recent price surge, which saw the crypto token rise to a new three-year high of $0.22.\u00a0 Dogecoin Witnesses Wave Of Profit-Taking Data from the market intelligence platform Santiment shows a drop in the number of Dogecoin holders holding between 10 million and 100 million DOGE tokens. This suggests that some holders have offloaded their tokens to secure profits from DOGE\u2019s recent price gains.\u00a0 Related Reading: Hedge Fund Manager Predicts When Bitcoin Price Will Reach $150,000 This wave of profit-taking looks to have become a pattern among DOGE holders, as further data from Santimemt showed that these whales also instantly booked their profits just after DOGE enjoyed an upward trend earlier in March. Bitcoinist even reported then of a Dogecoin whale that offloaded 86 million DOGE tokens on the market.\u00a0 Considering the magnitude of these whales\u2019 holdings, their actions are bound to exert much selling pressure on the DOGE token. That explains why the meme coin has steadily declined since rising to as high as $0.22 last week. Interestingly, Santiment, in an X (formerly Twitter) post, had recently warned of an impending sell-off by these whales.\u00a0 The crypto analytics platform noted how major dormant whales were moving their Dogecoin holdings back into circulation, which usually suggests they are getting ready to sell. Meanwhile, members of the DOGE community seem unfazed by the recent price dip, with many of them seeing it as an opportunity to accumulate more of the meme coin. The Whales Will Soon Return\u00a0\u00a0 Dogecoin whales are expected to return and position themselves again once this wave of profit-taking by them is done. Besides taking profits, these whales also see this period as an opportunity to invest in DOGE at the market bottom and in anticipation of future price gains.\u00a0 Related Reading: Bitcoin Halving Inches Closer With Less Than 2,900 Blocks Left Despite this recent correction, there looks to be a lot of bullish momentum on the largest meme coin by market cap, especially with analysts predicting that it could rise to $1 in this market cycle. In the short term, Dogecoin is also expected to make another run soon, with significant events coming up for the meme coin this April. The foremost US exchange, Coinbase, is set to launch Dogecoin futures for its institutional clients on April 29. This move could cause new money to flow into the meme coin\u2019s ecosystem and spark a price surge. DOGE Day is also happening on April 20, which will put the spotlight on the crypto token and possibly impact its price positively.\u00a0 At the time of writing, DOGE is trading at around $0.18, down over 6% in the last 24 hours, according to data from CoinMarketCap.\u00a0 DOGE price falls to $0.18 | Source: DOGEUSDT on Tradingview.com Featured image from Bankrate, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":600991,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-600966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree<\/title>\n<meta name=\"description\" content=\"The Dogecoin (DOGE) price looks at risk of further declines as on-chain data show that the meme coin\u2019s largest holders are securing profits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-major-roadblock\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-major-roadblock\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Dogecoin-Small.jpeg?resize=200%2C180","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Dogecoin-Small.jpeg?fit=320%2C180"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge news","doge price","dogecoin","dogecoin news","dogecoin price","dogeusd","dogeusdt"],"dateCreated":"2024-04-02T19:00:50Z","datePublished":"2024-04-02T19:00:50Z","dateModified":"2024-04-02T19:00:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Hits Major Roadblock As Whales Go On Massive Selling Spree\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-major-roadblock\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-major-roadblock\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Dogecoin-Small.jpeg?resize=200%2C180\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/Dogecoin-Small.jpeg?fit=320%2C180\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge news\",\"doge price\",\"dogecoin\",\"dogecoin news\",\"dogecoin price\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2024-04-02T19:00:50Z\",\"datePublished\":\"2024-04-02T19:00:50Z\",\"dateModified\":\"2024-04-02T19:00:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/Dogecoin-Small.jpeg?fit=320%2C180","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/600966"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=600966"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/600966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/600991"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=600966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=600966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=600966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}