Dogecoin’s Ownership Trend Shifts Towards Retail

Krutika Adani

Whales Pull out of DOGE

Whales with more than 0.1% ownership in Dogecoin have begun withdrawing their money.

Why Are They Selling?

The main reason for selling seems to be Dogecoin’s inability to rally higher despite clear chart signals.

Impact on DOGE Price

Dogecoin may remain volatile for the short term as ownership trends shift; however, it creates a better-democratized community in the long term.

Will DOGE Rally in 2024?

Crypto analysts like Ali Martinez have predicted that Dogecoin will rally in 2024, similar to its 2021 rally.

Levels to Watch

Dogecoin has shrunk by nearly half from its 2024 highs. However, a pullback rally above $0.28 might charge the bulls again.