Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
In recent hours, 450 million Dogecoin have arrived at major crypto exchange Binance. According to Blockchain data tracker Whale Alert, 450,000,000 DOGE worth $83,403,700 were transferred from an unknown wallet to Binance.
A move to exchanges might indicate an intent to sell, although other reasons might be likely, and follows the recent volatility in the market.
Friday's sell-off saw over $1.2 billion in crypto liquidations as investors jittered over banking concerns and escalating trade tensions.
Dogecoin extended its drop amid a short-term golden cross and risk-off sentiment in the broader market, falling for the fourth consecutive day since Oct. 13 before rebounding.
At the time of writing, Dogecoin was trading in green, reversing daily losses.
Dogecoin trades in green
Dogecoin stabilized Friday after early volatility saw its price drop to $0.175 before recovering into a tight $0.18-$0.19 range. At the time of writing, DOGE was up 4.71% in the last 24 hours to $0.187 amid a broader crypto market recovery.
Dogecoin reached an intraday high of $0.189; in the coming sessions, it will be watched for a confirmation of $0.18 as a short-term base.
According to Ali, a crypto analyst, a breakout above $0.19 could act as a trigger for a retest of the $0.20-$0.21 zone. Ali noted the $0.19 level as being mission-critical for DOGE, as a sustained breach above it might eye $0.33 as the next stop.
Ali, in a separate tweet, noted that Dogecoin has potential to rebound with its next targets at $0.29, $0.45 and $0.86.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team