Dogecoin Sees Rapid Accumulation Following Price Drop To $0.11

Name	Symbol	Market	Market Cap ($)	Algorithm
Harmony	ONEUSD	Crypto	227,400,829	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Harmony

ONEUSD

Crypto

227,400,829

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.000321	1.77%	0.018501	0.016767	0.020236

Price Change

Price Change %

Current Price

Bid Price

Offer

0.000321

1.77%

0.018501

0.016767

0.020236

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.018977	0.016462	0.017582	0.01818	0.008453 - 0.052701

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.018977

0.016462

0.017582

0.01818

0.008453 - 0.052701

Exchange	Last Trade	Size	Trade Price	Currency
KUCN	22:37:56	46.42	0.017882	USD

Exchange

Last Trade

Size

Trade Price

Currency

KUCN

22:37:56

46.42

0.017882

USD

Price x Volume	Volume	Base Symbol	Related Pairs
449,383.32	25,566,401.06	ONE	ONEEUR	ONEGBP	ONEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

449,383.32

25,566,401.06

Dogecoin Sees Rapid Accumulation Following Price Drop To $0.11

11/03/2022 5:00pm

NEWSBTC

Dogecoin has been on a downtrend for more than six months now. The meme coin which found favor in the eyes of investors had been able to rally to new highs but has been unable to replicate this success. Nevertheless, this has not been a deterrent for investors who continue to pour money into the digital asset. Most notable have been the whales as they accumulate massive amounts of Doge through its downtrend. Dogecoin Whales Not Giving Up Dogecoin is a long way from its $0.7 all-time high but that does not mean that investors believe that the digital asset is done for. In fact, Dogecoin whales themselves look to be the biggest believers of the meme coin given how much they have bought recently. These whales which hold the majority supply of the digital asset continue to add to their holdings at what can only be described as ‘discount prices.’ Related Reading | Bitcoin Jumps To $40k As Putin Sees “Positive Movement” In Negotiations IntoTheBlock documents cryptocurrencies and what percentages are held by larger wallets. Data from the site shows that Dogecoin whales have been ramping up their buying during the recent downtrend. Dogecoin which had recently crumbled to the $0.11 point saw a significant uptick in trading volume as these large wallets went on a shopping spree. DOGE trading at $0.115 | Source: DOGEUSD on TradingView.com Over a 24-hour time frame, these wallets had raised their holdings by another 6.8% putting the current percentage of Doge held by whales at 66%. It is a significant uptick given the low momentum that has rocked the altcoin of late. Doge has lost more than 60% of its all-time high value, presenting a buying opportunity for those interested. Still Making Money Even at what is categorized as low prices given how high the meme coin had rallied last year, the majority of Dogecoin holders are in no way losing money. IntoTheBlock shows that 54% of all Doge holders are still in profit at current prices. Inversely, 45% of all holders are in the loss territory, so not much of a wide gap from their money-making counterparts. While only 1% remain in the neutral territory. Related Reading | Bitcoin Falls Below $40,000 Trimming The Gains From US Crypto Order As for market sentiment, indicators point to investors being mostly bearish in the digital asset. However, this does not seem to deter the meme coin’s whales as they have added millions of dollars worth of coins to their holdings. This move on the part of whales could point to a recovery trend in the near future. However, with so many investors still bearish, it may require higher accumulation numbers than currently recorded to move the needle that much. Featured image from Laptop Mag, chart from TradingView.com

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