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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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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