{"id":625278,"date":"2024-06-19T03:00:32","date_gmt":"2024-06-19T03:00:32","guid":{"rendered":"https:\/\/uniquehot.com\/?p=625278"},"modified":"2024-06-18T17:44:05","modified_gmt":"2024-06-18T17:44:05","slug":"dogecoin-ownership-shifts-whales-downsize-as-prices-dip","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-ownership-shifts-whales-downsize-as-prices-dip\/","title":{"rendered":"Dogecoin’s Ownership Shifts: Whales Downsize As Prices Dip, Who\u2019s In Charge Now?"},"content":{"rendered":"

As the crypto market endures another tumultuous period, Dogecoin has seen significant changes in its ownership structure. Recent data from IntoTheBlock reveals a notable shift, with major Dogecoin whales\u2014those holding more than 0.1% of the total supply\u2014reducing their stakes.<\/p>\n

Dogecoin Redistribution: Who Is In Charge Now?<\/h2>\n

IntoTheBlock data<\/a> indicates that this position reduction from these whales has been ongoing for the past year. Specifically, the share of Dogecoin controlled by these large holders has decreased from 45.3% to 41.3%.<\/p>\n

Related Reading: Dogecoin Sees Monumental Surge In Transactions As Whales Spend $129 Million<\/a><\/div>\n

This trend suggests a possible decentralization of ownership or a strategic shift in the holdings of larger investors, perhaps in response to market conditions or broader cryptocurrency trends.<\/p>\n

Simultaneously, this decrease among major holders has been accompanied by increased ownership among retail and mid-sized investors. These smaller investors have seized the opportunity to accumulate more Dogecoin, raising their collective stake in the total supply.<\/p>\n

\"Dogecoin
Dogecoin holders’ historical concentration. | Source: IntoTheBlock<\/a><\/figcaption><\/figure>\n

This redistribution of Dogecoin holdings could indicate a growing democratization in the investment landscape of this particular cryptocurrency.<\/p>\n

As more individuals and smaller investors become significant stakeholders, the dynamics of market reactions<\/a> to news and events could shift, potentially leading to increased market stability or different volatility patterns based on these new majority holders’ trading behaviors<\/a>.<\/p>\n

Price Dips: Traders Suffer, Analysts Remain Optimistic<\/h2>\n

Meanwhile, the decentralization of Dogecoin holdings contrasts with the current market conditions, where the price<\/a> of Dogecoin has fallen nearly 10% in the last 24 hours to $0.211.<\/p>\n

\"Dogecoin
DOGE price is moving upside down on the 4-hour chart. Source: DOGE\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

This decline is part of a broader downturn that saw the cryptocurrency shed 12.5% of its value over the past week, bringing its market capitalization below $18 billion.<\/p>\n

This downward trend in Dogecoin\u2019s price is impacting traders<\/a> significantly. According to Coinglass<\/a>, the last 24 hours have seen 165,199 traders liquidated, contributing to $459.04 million in total market liquidations.<\/p>\n

\"Dogecoin
Dogecoin total liquidations. | Source: Coinglass<\/a><\/figcaption><\/figure>\n

Dogecoin traders alone have faced about $61.89 million in losses. Liquidation in the crypto market refers to the forced closure of leveraged positions due to a partial or total loss of the trader’s initial margin. This happens when they cannot meet the margin requirements for their leveraged position.<\/p>\n

Despite the prevailing bearish trends, the sentiment isn’t universally negative. Santiment reports<\/a> a decrease in crowd sentiment towards Dogecoin, suggesting that the current low prices might offer a buying opportunity for patient investors.<\/p>\n

This perspective aligns with observations from market analysts who see the potential for recovery. Particularly, Trader Tardigrade, a renowned crypt analyst on X, describes<\/a> a “Ladle Pattern” in Dogecoin’s price movements, indicating a potential bullish trend.<\/p>\n

\n

$DOGE<\/a> has been forming Ladle Pattern in each cycle.
\nThe bowl is ready \ud83d\udd25
\nAre you ready for the shaft??
\nRide on it \ud83d\ude80#Dogecoin<\/a> pic.twitter.com\/zJQBnWuoSv<\/a><\/p>\n

\u2014 Trader Tardigrade (@TATrader_Alan) June 15, 2024<\/a><\/p><\/blockquote>\n

Meanwhile, Crypto analyst Javon Marks predicts a significant upswing<\/a> for Dogecoin, anticipating a price surge based on historical performance and projecting an optimistic future for the meme coin amidst its current lows.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

As the crypto market endures another tumultuous period, Dogecoin has seen significant changes in its ownership structure. Recent data from IntoTheBlock reveals a notable shift, with major Dogecoin whales\u2014those holding more than 0.1% of the total supply\u2014reducing their stakes. Dogecoin Redistribution: Who Is In Charge Now? IntoTheBlock data indicates that this position reduction from these whales has been ongoing for the past year. Specifically, the share of Dogecoin controlled by these large holders has decreased from 45.3% to 41.3%. Related Reading: Dogecoin Sees Monumental Surge In Transactions As Whales Spend $129 Million This trend suggests a possible decentralization of ownership or a strategic shift in the holdings of larger investors, perhaps in response to market conditions or broader cryptocurrency trends. Simultaneously, this decrease among major holders has been accompanied by increased ownership among retail and mid-sized investors. These smaller investors have seized the opportunity to accumulate more Dogecoin, raising their collective stake in the total supply. This redistribution of Dogecoin holdings could indicate a growing democratization in the investment landscape of this particular cryptocurrency. As more individuals and smaller investors become significant stakeholders, the dynamics of market reactions to news and events could shift, potentially leading to increased market stability or different volatility patterns based on these new majority holders’ trading behaviors. Price Dips: Traders Suffer, Analysts Remain Optimistic Meanwhile, the decentralization of Dogecoin holdings contrasts with the current market conditions, where the price of Dogecoin has fallen nearly 10% in the last 24 hours to $0.211. This decline is part of a broader downturn that saw the cryptocurrency shed 12.5% of its value over the past week, bringing its market capitalization below $18 billion. This downward trend in Dogecoin\u2019s price is impacting traders significantly. According to Coinglass, the last 24 hours have seen 165,199 traders liquidated, contributing to $459.04 million in total market liquidations. Dogecoin traders alone have faced about $61.89 million in losses. Liquidation in the crypto market refers to the forced closure of leveraged positions due to a partial or total loss of the trader’s initial margin. This happens when they cannot meet the margin requirements for their leveraged position. Despite the prevailing bearish trends, the sentiment isn’t universally negative. Santiment reports a decrease in crowd sentiment towards Dogecoin, suggesting that the current low prices might offer a buying opportunity for patient investors. This perspective aligns with observations from market analysts who see the potential for recovery. Particularly, Trader Tardigrade, a renowned crypt analyst on X, describes a “Ladle Pattern” in Dogecoin’s price movements, indicating a potential bullish trend. $DOGE has been forming Ladle Pattern in each cycle. The bowl is ready \ud83d\udd25 Are you ready for the shaft?? Ride on it \ud83d\ude80#Dogecoin pic.twitter.com\/zJQBnWuoSv \u2014 Trader Tardigrade (@TATrader_Alan) June 15, 2024 Meanwhile, Crypto analyst Javon Marks predicts a significant upswing for Dogecoin, anticipating a price surge based on historical performance and projecting an optimistic future for the meme coin amidst its current lows. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":625289,"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":[134,6664,10923,1785,89745,92616,7,79600,85699],"class_list":["post-625278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoin","tag-crypto","tag-crypto-market","tag-doge","tag-doge-prediction","tag-dogeanalysis","tag-dogecoin","tag-dogeusdt","tag-memecoin"],"acf":[],"yoast_head":"\nDogecoin Ownership Shifts: Whales Downsize As Prices Dip, Who\u2019s In Charge Now?<\/title>\n<meta name=\"description\" content=\"As the crypto market endures another tumultuous period, Dogecoin has seen significant changes in its ownership structure...\" \/>\n<meta name=\"robots\" content=\"index, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin’s Ownership Shifts: Whales Downsize As Prices Dip, Who\u2019s In Charge Now?","url":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-ownership-shifts-whales-downsize-as-prices-dip\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-ownership-shifts-whales-downsize-as-prices-dip\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-18-17.13.15-A-digital-artwork-depicting-a-conceptual-scene-of-Dogecoins-ownership-shift.-The-image-features-a-large-whale-made-of-Dogecoin-coins-gradually-breaki.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-18-17.13.15-A-digital-artwork-depicting-a-conceptual-scene-of-Dogecoins-ownership-shift.-The-image-features-a-large-whale-made-of-Dogecoin-coins-gradually-breaki.jpg?fit=1024%2C1024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","crypto market","doge","doge prediction","dogeanalysis","dogecoin","dogeusdt","memecoin"],"dateCreated":"2024-06-19T03:00:32Z","datePublished":"2024-06-19T03:00:32Z","dateModified":"2024-06-19T03:00:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin’s Ownership Shifts: Whales Downsize As Prices Dip, Who\\u2019s In Charge Now?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-ownership-shifts-whales-downsize-as-prices-dip\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/dogecoin\\\/dogecoin-ownership-shifts-whales-downsize-as-prices-dip\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-18-17.13.15-A-digital-artwork-depicting-a-conceptual-scene-of-Dogecoins-ownership-shift.-The-image-features-a-large-whale-made-of-Dogecoin-coins-gradually-breaki.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-18-17.13.15-A-digital-artwork-depicting-a-conceptual-scene-of-Dogecoins-ownership-shift.-The-image-features-a-large-whale-made-of-Dogecoin-coins-gradually-breaki.jpg?fit=1024%2C1024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"crypto market\",\"doge\",\"doge prediction\",\"dogeanalysis\",\"dogecoin\",\"dogeusdt\",\"memecoin\"],\"dateCreated\":\"2024-06-19T03:00:32Z\",\"datePublished\":\"2024-06-19T03:00:32Z\",\"dateModified\":\"2024-06-19T03:00:32Z\"}<\/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\/06\/DALL\u00b7E-2024-06-18-17.13.15-A-digital-artwork-depicting-a-conceptual-scene-of-Dogecoins-ownership-shift.-The-image-features-a-large-whale-made-of-Dogecoin-coins-gradually-breaki.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/625278","targetHints":{"allow":["GET"]}}],"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\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=625278"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/625278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/625289"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=625278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=625278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=625278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}