Investors’ Activity Soars 450% as Dogecoin Price Holds Critical Support Level
Dogecoin, the meme-inspired cryptocurrency, has seen a 477% increase in the rate at which the altcoin changes hands since May 11, indicating an active user base. Despite the increased activity, however, the impact of small wallet holders on Dogecoin’s price remains minimal, with accumulation worth just over $42,000 having “no impact on the price action whatsoever”. Larger transactions of over $100,000, on the other hand, could be indicative of whale activity and influence price fluctuations. The Dogecoin price nearly slipped below $0.070 following a steady decline over the last month, before recovering slightly to reach $0.073. The short-term target is expected to be $0.078, but recovery is not yet clear as the Relative Strength Index remains in the bearish zone below the neutral point.
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