- DOGE was on the listing of the highest 10 most bought tokens among the many prime 100 BSC whales.
- Metrics and market indicators have been bullish.
Dogecoin [DOGE] outperformed each different crypto on the highest 10 listing by market capitalization by way of day by day good points. DOGE’s worth elevated by over 5% within the final 24 hours, whereas the others struggled.
At press time, DOGE was buying and selling at $0.09028 with a market cap of greater than $11.9 billion. Nevertheless, as quickly as DOGE’s worth rose, its Concern and Greed index shifted to the greed aspect.
If this continues, it may provoke promoting strain. Contemplate this- CryptoQuant’s data revealed that the token’s Relative Power Index was in an overbought place, which additional will increase the probabilities of a worth dip within the days to observe.
Supply: CFGI.io
Learn Dogecoin’s [DOGE] Price Prediction 2023-24
Up or down?
Curiously, whereas DOGE registered good points, it additionally managed to garner whale curiosity. As per WhaleStats, DOGE was on the listing of the highest 10 most bought tokens among the many prime 100 BSC whales within the final 24 hours.
Aside from whale curiosity, one other potential cause for DOGE’s surge may very well be Robinhood announcing that it was engaged on offering assist for DOGE in its new Robinhood pockets.
JUST IN: $DOGE @dogecoin now on prime 10 bought tokens amongst 100 largest #BSC whales within the final 24hrs 🐳
Test the highest 100 whales right here: https://t.co/0SYnjw0xQs
(and hodl $BBW to see knowledge for the highest 4000!)#DOGE #whalestats #babywhale #BBW pic.twitter.com/G6RCR4INnt
— WhaleStats – the highest 1000 BSC richlist (@WhaleStatsBSC) January 23, 2023
Although the RSI and Concern and Greed index gave a notion that the approaching days may convey dangerous information, the metrics, however, seemed bullish. DOGE’s MVRV Ratio went up over the previous few days after a decline, which will help DOGE maintain its worth pump.
DOGE was additionally in demand within the derivatives market as its Binance funding fee spiked. Nevertheless, the memecoin’s velocity registered a decline, which was a bearish sign.
Supply: Santiment
Practical or not, right here’s DOGE’s market cap in BTC’s phrases
The bulls are nonetheless main
A number of of the market indicators additionally advised the identical story of DOGE sustaining its uptrend. As an example, the Exponential Transferring Common (EMA) Ribbon displayed a bullish crossover, suggesting a continued worth surge.
Furthermore, the Chaikin Cash Movement (CMF) registered an uptick. The Cash Movement Index (MFI) was regarding although, because it went down barely and was headed towards the impartial mark.
Supply: TradingView