Big investors in Dogecoin are selling their coins, due to which the price has dropped significantly. It dropped 10% in just one day and is now worth less than $18 billion.
A Wales is selling some of his coins, reducing his total stake. On the other hand, small investors are buying more Doge. Recently the price of Dogecoin has fallen a lot. In just one day it fell 10% to $0.211. This decline is part of a larger decline over the past week, which has brought the total value of Dogecoin below $18 billion. Due to the falling price, many investors who had purchased Dogecoin by taking loans had to sell their coins as they could not repay the loans.
Due to this, he suffered a huge loss. However, not everyone considers it bad news. Some experts believe that low prices could be a good opportunity for those who can wait for prices to rise again. One expert has also noticed a pattern in the prices that could mean that the price of Doge will start rising again.
Dogecoin: Retail Investors Rise
Big investors have been selling their Doge over the last year, their share went down from 45.3% to 41.3%. This means that Doge is now owned by more small investors instead of a few big ones, and these small investors are buying more Dogecoin, which could make the market fairer. With more small investors involved, the price of Dogecoin might become more stable or change in new ways
Traders Suffer as Price Dips
The price of Doge has declined significantly recently, falling 10% to $0.211 in just one day. It lost 12.5% of its total value in the last week. Such a huge drop has caused problems for many traders, with more than 165,000 of them losing money because they had borrowed money to invest. And they couldn’t return it when the price fell.
But, not everyone is worried about this decline, and some market experts believe that the low price of Dogecoin could be a good opportunity for people to buy it and wait for the price to rise later. One expert even noticed a pattern in Dogecoin’s price changes, which means it may start rising again soon
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