These metrics do not look superb for Dogecoin – AMBCrypto Information

It’s been a while since the market heard the bark of DOGE. It is noteworthy that the value of the meme coin rose to $ 0.34 in the past week. It couldn’t hold the above levels for long, however, and was back at $ 0.32 at the time of writing.

Time to sell?

At the time of going to press, more than 80% of the DOGE addresses were profitable. The following graphic clearly shows that the increase in the number of profitable addresses was always followed by a decrease. Hence, it can be said that DOGE HODLers tend to cash out when they are in the money.

Money in / out || Source: IntoTheBlock

IntoTheBlock’s “Trades Per Page” metric further showed the large difference in the difference between buyer and seller. For example, in the past 6 hours, sell trades overshadowed buy trades by more than 60 million DOGE tokens. Should the selling pressure increase further in the coming meeting, the old price could not hold its current price level for long.

What are those involved up to?

Therefore, DOGE tokens are not distributed evenly among market participants. Whales hold more than 44% of total circulating supply, while the remaining 56% is shared between retail participants and investors.

In particular, the large transaction volume fell sharply from 38.76 billion DOGE to just 12.84 billion DOGE within just two weeks. As is well known, large transactions are usually carried out by whales, and their current not-so-active state is another big reason why DOGE’s price has not seen a move north recently.

Large transaction volume || Source: IntoTheBlock

No hope at all?

Up until a week ago, DOGE’s development work ran at a good pace. However, their condition has now deteriorated. In fact, the number of open issues on Github went from 227 to 198 in just two days. Issues as such help developers keep track of their work on Github, and a decrease in this number essentially indicates the decline in development progress.

Open issues on Github || Source: IntoTheBlock

The current state of most of the above metrics remains quite unattractive. Therefore, traders should not expect drastic price fluctuations in the upcoming trading sessions. All in all, according to the pseudonymous trader Kaleo, it is not the right time to sleep on DOGE. Maybe the timing will never be right!


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Dogecoin

Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

What happened Towards the end of the week, cryptocurrency prices in Friday morning trading...

By wpadminsonic164
Dogecoin Elliott Wave Evaluation: Appears to be Transferring Down – FXStreet Dogecoin

Dogecoin Elliott Wave Evaluation: Appears to be Transferring Down – FXStreet

If the crypto market extends its decline today, we would likely have five waves...

By wpadminsonic164
Make Chainlink, Fundamental Consideration Token, Dogecoin  funding – AMBCrypto Information Dogecoin

Make Chainlink, Fundamental Consideration Token, Dogecoin funding – AMBCrypto Information

Several altcoins are appearing in the crypto room with the intention of becoming the...

By wpadminsonic164
Dogecoin-inspired DogeCola drinks are transport this month – Benzinga – Benzinga Dogecoin

Dogecoin-inspired DogeCola drinks are transport this month – Benzinga – Benzinga

DogeCola (CRYPTO: DOGECOLA) will be shipping its Memecoin-inspired soft drinks this month. What happened:...

By wpadminsonic164
Dogecoin faces one other drop on a closing value under $ 0.28: Evaluation – Yahoo Finance Dogecoin

Dogecoin faces one other drop on a closing value under $ 0.28: Evaluation – Yahoo Finance

Dogecoin (CRYPTO: DOGE) Investors should expect to plunge into another major downturn soon.What happened:...

By wpadminsonic164
Prime Cryptocurrency Costs Right this moment: Dogecoin, Cardano Falling;  Binance Coin wins 4% – Financial Occasions Dogecoin

Prime Cryptocurrency Costs Right this moment: Dogecoin, Cardano Falling; Binance Coin wins 4% – Financial Occasions

New Delhi: Major cryptocurrencies traded almost unchanged as the digital token cart was missing...

By wpadminsonic164
Dogecoin

Why Dogecoin is Crypto’s Most Harmful Joke – Motley Idiot

the Dogecoin (CRYPTO: DOGE) Blockchain is a ghost town when compared to other cryptocurrencies...

By wpadminsonic164
Dogecoin

Why Bitcoin, XRP, and Dogecoin Look Weak Immediately – Motley Idiot

What happened Cryptocurrency prices start the week weak on Monday. Here's what happens to...

By wpadminsonic164

Latest Posts

Uncategorized

Noboni.com: Best Girl’s Online Shopping in bd

Noboni.com is the best Bd online shopping for girls. We 🏷️ offer the latest...

By wpadminsonic164
Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information Stellar

Monero, Stellar, AAVE Value Evaluation: August twenty second – AMBCrypto Information

Major cryptocurrencies have shown mixed trading so far, with Bitcoin reversing its losses by...

By wpadminsonic164
BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!! Videos

BITCOIN CRASH (essential add)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!

BITCOIN CRASH (important upload)!! MY NEW STRATEGY, BITCOIN PRICE PREDICTION & BITCOIN NEWS TODAY!!...

By wpadminsonic164
Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance Binance

Binance allegedly seeks authorities funding underneath regulatory strain, focusing on $ 200 billion valuation – Yahoo Finance

The world's leading cryptocurrency exchange Binance seeks government funding despite being in the crosshairs...

By wpadminsonic164
Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe Cardano

Bexplus lists Cardano (ADA), provides 100x leverage and 100% deposit bonus – CryptoGlobe

In order to do justice to the fast growing market for Cardano ($ ADA),...

By wpadminsonic164
Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report Ethereum

Ethereum’s EIP-1559 improve burned $ 400 million in ETH: report

Ethereum's EIP-1559 upgrade burned $ 400 million in ETH instead of handing it over...

By wpadminsonic164
Dogecoin

Why Bitcoin, Dogecoin, Ethereum – and in addition Coinbase – are on the transfer at this time – Motley Idiot

What happened Towards the end of the week, cryptocurrency prices in Friday morning trading...

By wpadminsonic164
The transition between fiat and bitcoin Bitcoin

The transition between fiat and bitcoin

One world, two systems: Why Bitcoin and Fiat have to learn to live togetherTwo...

By wpadminsonic164