The price of Dogecoin dropped by 11% today, May 30, amid intense selling following long liquidations of over $20 million.
Dogecoin's decline could continue to $0.17 before the next bullish reversal.
Whales holding between 100 million and 1 billion DOGE have sold 60 million tokens in the last two days.
Dogecoin (DOGE) fell by 11% on Friday, May 30, registering the largest loss among the ten largest cryptocurrencies by market capitalization. The sharp drop in Dogecoin's price coincides with intense selling activity from whales, as these large addresses sold 60 million tokens in the last two days.
The current wave of DOGE selling comes after a general collapse in the cryptocurrency market that has wiped out over $700 million in 24 hours, according to data from Coinglass. At the time of this writing, Dogecoin is trading at $0.2014, its lowest level since May 10.
$DOGE
Dogecoin's decline could continue to $0.17 before the next bullish reversal.
Whales holding between 100 million and 1 billion DOGE have sold 60 million tokens in the last two days.
Dogecoin (DOGE) fell by 11% on Friday, May 30, registering the largest loss among the ten largest cryptocurrencies by market capitalization. The sharp drop in Dogecoin's price coincides with intense selling activity from whales, as these large addresses sold 60 million tokens in the last two days.
The current wave of DOGE selling comes after a general collapse in the cryptocurrency market that has wiped out over $700 million in 24 hours, according to data from Coinglass. At the time of this writing, Dogecoin is trading at $0.2014, its lowest level since May 10.
$DOGE
