Krutika Adani
Whales with more than 0.1% ownership in Dogecoin have begun withdrawing their money.
The main reason for selling seems to be Dogecoin’s inability to rally higher despite clear chart signals.
Dogecoin may remain volatile for the short term as ownership trends shift; however, it creates a better-democratized community in the long term.
Crypto analysts like Ali Martinez have predicted that Dogecoin will rally in 2024, similar to its 2021 rally.
Dogecoin has shrunk by nearly half from its 2024 highs. However, a pullback rally above $0.28 might charge the bulls again.