Source: TradingView
The Dogecoin price has barely moved in the past 24 hours, with its current price of $0.088410 representing a 7.5% gain in the past week. It also marks a 2% gain in the past month, with DOGE benefitting in this period from Elon Musk continuing to make cryptic allusions to the meme token.
The Dogecoin price has shown little reaction so far to reports yesterday that over $2.75 million in the token was transferred from multiple addresses to a single wallet. This could represent a whale preparing to sell its holdings in Dogecoin, with other whales also having moved large amounts of the token in recent weeks.
Dogecoin Price Prediction as DOGE Whale Moves Millions of Tokens to Unknown Wallet – What's Going On?
Source: TradingView
On the other hand, the coin's 30-day moving average (red) has stopped climbing above its 200-day (blue), signaling that it may be due a fall.
This suspicion is supported to some extent by recent whale activity. Yesterday, one large holder moved 31,158,390 DOGE (now worth about $2.75 million) from several addresses to a single wallet.