Over $1.6 Billion DOGE Sold This Month, But Dogecoin Price Continues Rally, Here’s Why 🐕
Dogecoin's recent surge is partly driven by expectations of a potential DOGE ETF launch. Though this rally coincides with substantial selling by investors, including large holders, Dogecoin remains in focus.
This month, over 5.81 billion DOGE were moved to exchanges, hinting at increased investor caution. Despite ETF optimism fueling price increases, the sustainability of this growth is in question amid mounting selling pressure.
Indicators suggest potential dangers, as long-term holders, previously stabilizing forces, appear to be offloading assets, traditionally seen as bearish signals.
Currently, DOGE prices rise with ETF hopes. Nevertheless, unless these positive sentiments prevail, significant exchange inflows and sell-offs could undermine confidence and trigger a price drop.
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