Two huge transactions involving Dogecoin (DOGE-USD), totaling 816 million DOGE (about $259 million), have set off a flurry of speculation. Whale Alert spotted the massive moves, with one transfer alone carrying 466 million DOGE valued at $149 million. According to Whale Alert, these transfers may indicate a major sell-off or simply a strategic repositioning by large holders.
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Could a Massive Sell-Off Be on the Horizon?
Dogecoin prices dipped 3.5% right after these transactions, but they’ve recovered slightly. At the time of writing, DOGE is sitting at $0.3209. The key question remains: are big investors preparing for a price plunge, or are they positioning themselves for something bigger? Analysts are tracking the key resistance and support levels, with DOGE facing challenges around $0.3245, according to technical analysis.
