Dogecoin Faces a Cold Winter! The Network is Quiet, the Unlocking Tide is Coming, Can It Hold On?
Dogecoin has really made people anxious lately! Looking at the latest data, the Dogecoin network is as quiet as winter, with activity dropping to the lowest level since October this year. There are only a few dozen large transactions every day to keep it afloat, which is heart-wrenching to see.
Looking at the number of active addresses, it’s pitifully low, even less than sixty thousand. The entire network seems to have been put on pause, with no activity at all. With this situation, how can one not worry about the market prospects for Dogecoin?
A wave of large unlocking is about to hit the market. In the coming days, many cryptocurrencies will unlock, with some single unlock amounts being shockingly high, exceeding 5 million dollars, like SUI, OP, and ENA.
Also, SOL, WLD, TIA, and Dogecoin itself, unlock amounts every day are also in the millions. The total value of these cryptocurrencies set to unlock exceeds 465 million dollars, which is practically a “currency tsunami”!
Dogecoin is already having a tough time, with the network inactive, and now facing this unlocking tide, it’s really adding insult to injury. These two bad news combined are a big test for Dogecoin’s market supply and demand and price.
However, there are still people who have confidence in Dogecoin. They believe that as long as the D.O.G.E. team keeps pushing forward, along with the support from Elon Musk, when Dogecoin's price drops to a certain level, it might just be a good opportunity to buy the dip.
But that said, the market is unpredictable, so we must remain calm and wait for the right moment to take action.
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