Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on the stock market, trading, and all things Wall Street. Today, we are looking at the recent movements in Dogecoin price and the impact of whale investors on the market.
As of May 26, Dogecoin whales held a cumulative balance of 17.62 billion DOGE. However, in just 4 days, that figure has dropped to 17.33 billion, with whales offloading over $46 million worth of DOGE. This significant sell-off has led to a 10.61% drop in DOGE price, putting the $0.15 support level at risk.
With Dogecoin currently trading at $0.16, technical indicators suggest that bears are gaining control, potentially pushing the price below the critical support level at $0.153. If the selling pressure from whales continues, we could see further downward pressure on Dogecoin price in the days ahead.
Stay tuned to Extreme Investor Network for more updates on Dogecoin, the stock market, and everything you need to know to make informed investment decisions. Remember, knowledge is power in the world of investing.