Dogecoin Price Prediction as Robinhood Stores 33.5 B DOGE
According to recently released data, Robinhood retains approximately 25% of circulating DOGE for its clients, increasing DOGE to more than 6%.
Weekly Dogecoin price prediction is here. Experts are keeping a close eye on the popular trading app Robinhood, which still holds a large amount of the meme-inspired cryptocurrency. According to data from @DogeWhaleAlert, the app currently holds 33,562,118,379 Dogecoins, which is equivalent to $2,206,373,662. While this is slightly less than a week ago, it still accounts for 24.23% of the DOGE supply in circulation.
In the midst of this news, a big amount of Dogecoin was delivered to Binance, one of the largest cryptocurrency exchanges, with the cooperation of a top 20 wallet. An anonymous wallet sent $3,197,660 in Dogecoin to another anonymous wallet. Furthermore, over 15.5 million Dogecoins were transferred to Binance from various unknown wallets. Finally, a top 20 wallet transferred 14,999,980 DOGE, which is little less than $1 million, to an anonymous address.
All of these trades total almost $4.3 million in Dogecoin value. Since the cryptocurrency market continues to be turbulent, Dogecoin price prediction experts are constantly tracking these moves to understand how they may affect the value of the meme-inspired digital asset.
Dogecoin Price Prediction
At the time of writing, the price of Dogecoin is $0.073030 USD, with a 24-hour trading volume of $628,422,514 USD. Dogecoin has increased by 7.15% in the previous 24 hours. DOGE is currently ranked #9 on CoinMarketCap, with a market cap of $9,688,974,426 USD. The circulation supply is 132,670,764,300 DOGE coins, and the maximum supply is not known.
Source: CoinMarketCap
Dogecoin Price Prediction: Weekly Chart
Dogecoin has been more than 3% up this week and showing a potential to carry on this pace up till the next week as far as expert’s Dogecoin price prediction is taken into consideration.
As per Dogecoin price prediction, trend lines are making a descending triangle which indicates a near future bull run. The bull run will be supported by the support line at $0.0726 price as it is now the critical support dogecoin is trading at. If everything goes right, dogecoin supporters can see a rise within the next week.
However, market uncertainties like closing of financial banks and depegging of stable coins are making the scenario worse. If fundamental factors affect the price and take the price below the support level, dogecoin will bleed red candles severely.
The MA is at $0.082 which isn’t very much far away from the trading price. Relative strength index is at 43 and still on rising which indicates that investors are getting into the market.
Source: TradingView
Dogecoin Price Prediction: Daily Chart
Dogecoin price prediction appears to show the market following a bullish movement, with volatility entering a closing movement, thereby tightening the market. The cryptocurrency's price stability minimises the risk of suffering significant fluctuations. The maximum price of the DOGE cryptocurrency at the moment is $0.0732, while the open price is $0.0728. DOGE's lowest price is currently $0.0727, with a -0.08% change and a close price of $0.0727.
The DOGE/USD is currently in a negative trend, having fallen below the Moving Average curve. But, there is a chance of a trend reversal when the price moves upwards into the resistance band. This increase in volatility may favour the bulls, leading to a breakout and more possibilities for bullish activity.
The Relative Strength Index (RSI) was 42, indicating a stable DOGE value in the lower neutral range. Also, the RSI score is rising, indicating that there is an expanding market with strong buying activity. This signifies that the market is on the rise.
The MACD is exhibiting red spikes which shows a bear market. But the good news is the peak has gone and in near time sooner or later,green histogram could be seen.
Source: TradingView
What is the current amount of Dogecoin held by the trading app Robinhood, and how does this relate to the DOGE supply?
According to data from @DogeWhaleAlert, Robinhood holds 33,562,118,379 Dogecoins, which is equivalent to $2,206,373,662. This amount accounts for 24.23% of the DOGE supply in circulation.
What recent significant transactions involving Dogecoin have taken place on Binance?
A significant amount of Dogecoin was transferred to Binance, with the cooperation of a top 20 wallet. An anonymous wallet sent $3,197,660 in Dogecoin to another anonymous wallet. Over 15.5 million Dogecoins were also transferred to Binance from various unknown wallets. Additionally, a top 20 wallet transferred 14,999,980 DOGE (less than $1 million) to an anonymous address. The total value of these transactions is nearly $4.3 million in Dogecoin.
How are these recent transactions influencing Dogecoin price prediction experts?
The cryptocurrency market's turbulence has led experts to closely monitor these transactions to understand their potential impact on the value of Dogecoin. These moves are being analyzed as part of broader efforts to predict the future price trajectory of the meme-inspired digital asset.
What is the current price and trading volume of Dogecoin?
At the time of writing, the price of Dogecoin is $0.073030 USD, with a 24-hour trading volume of $628,422,514 USD.
What is Dogecoin's current market rank and market cap?
Dogecoin is currently ranked #9 on CoinMarketCap, with a market cap of $9,688,974,426 USD.
What trend is observed in Dogecoin's weekly price chart and what does it suggest?
In the weekly chart, Dogecoin has shown an increase of over 3% and exhibits a potential for maintaining this pace into the next week. The chart suggests the formation of a descending triangle, indicating the possibility of a bullish run in the near future, supported by a critical support level at $0.0726.
What factors might affect Dogecoin's future price movement?
While the expert's prediction suggests a potential rise, uncertainties such as the closure of financial banks and depegging of stable coins could impact the scenario. If fundamental factors drive the price below the support level, the value of Dogecoin might decline.
How does the daily chart reflect the current state of Dogecoin's price?
The daily chart shows a potential bullish movement with increasing volatility, leading to a closing market. Despite falling below the Moving Average curve, there's a possibility of a trend reversal when the price moves upwards into the resistance band, indicating potential for bullish activity.
What are the current Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) values?
The RSI is at 42, indicating stability in the lower neutral range. It's rising, suggesting strong buying activity. The MACD shows red spikes, signifying a bear market, but there's anticipation for a potential turnaround with green histograms indicating a bullish trend in the near future.
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