The price falls over 20 % as the massive conversion raises fears – TradingView news

Dogecoin makes waves in the world of encryption again, but not for upward reasons. The amazing 360 million dodes, valued at about $ 62.7 million, have recently been transferred to Binance, which led to widespread speculation among merchants.

However, the huge treatment has not yet affected the price of the icon. At the time of this post, Duji was traded at $ 0.1562, which represents a decrease of 8 % and 23 % a day and last week, respectively.

Temporary modification or significant sale?

Historically, such large transfers are often preceded by significant price fluctuations, leaving the market participants wondering whether it is widespread emotional emptying or if this is the re -identification of a place calculated by a whale.

While Dog is struggling at the lowest price in five months, the market remains at a state of high alert. MeMe coins face unnecessary pressure, as Dogecoin fell to less than $ 0.20 for the first time since November 2024.

Dogecoin price, source: coinmarkcap

The important deposit on Binance has sparked concerns about increasing the pressure pressure, which may lead to low price. According to whale alert, the movements of this scale often indicate a shift in market dynamics.

However, not everyone sees this significant signal. Some argue that whales usually avoid selling at the lowest market levels, indicating that this may be part of a wider accumulation strategy.

With Dog sitting at its lowest level for five months, the potential bounce is still a possibility. The market reaction in the coming days will determine whether this movement is an introduction to a greater sale or tactical play by a major investor.

Mimi currency market faces turmoil

Dogecoin struggles reflect a wider contraction in coins. Shayba Eno (Ship) suffered heavy losses, a decrease of more than 10 % in the weekly graph. Dog has lost more than 20 % of its value in only one week, with the decrease in open interest to its lowest level since October.

Dogeusd, Source: Tradingview

Economic uncertainty, including the concerns of customs tariffs and the federal reserve position on interest rates, has led to Hamas of speculative encryption investments. Despite the ongoing sales, some merchants believe in coins that can approach the bottom. Historically, extreme fear in the market has often had sharp repercussions.

If the main Bitcoin and Altcoins are the power, it may follow its doge and SHIB. However, if Bitcoin remains stagnant less than $ 85,000, Meme currencies may continue to decrease.