Dogecoin Holding Time and Whale Activity Spikes
Dogecoin (DOGE), a leading meme coin, is signaling a possible breakout of its tight trading range.
If this momentum continues, it could return to multi-year highs of $0.48, driven by longer holding periods and increased holdings by major shareholders.
Dogecoin investors reduce allocations
On-chain evaluation DOGE’s performance It was revealed that the holding time of all coins traded in the past seven days has increased significantly. According to IntoTheBlock, this number climbed 302% during the review period.
Asset exchange token holding time represents the average duration that a token remains in a wallet before being sold or transferred.
A longer holding period like this could reduce selling pressure in the DOGE market. This reflects stronger conviction as investors choose to hold on to their tokens rather than sell them.
In addition to reducing sales activity, DOGE whale has Open interest increased over the past week. This was reflected in the 112% increase in net flows from its major shareholders during the period.
The net flow metric of large asset holders tracks the movement of tokens in and out of wallets controlled by whales or institutional investors. When this indicator spikes, it indicates that these large investors are accumulating more assets, indicating increased confidence in their future price movements.
DOGE Price Prediction: The bullish trend is likely to continue
If this bullish momentum is maintained, DOGE will extend its 3% weekly gain. As buying pressure increases same corner It could revisit four-year highs of $0.48.
However, this bullish outlook will be invalidated if accumulation stalls and selling activity resumes. In that scenario, The price of DOGE may drop to $0.29.
Disclaimer
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