Dogecoin Price Eyes 50% ETF-Led Rally, But One Risk Lingers
The post Dogecoin Price Eyes 50% ETF-Led Rally, But One Risk Lingers appeared on BitcoinEthereumNews.com. Dogecoin is currently trading at $0.249, up 44.4% in the past three months. In the last 24 hours, it has gained 4.2%, helped by excitement as the Dogecoin ETF ($DOJE) is expected to go live today. Over the past seven days, the Dogecoin price is up 16%, while the past month shows a gain of about 12%. Short- and mid-term signals both look positive, and charts suggest a rally of nearly 50% could be possible if ETF-driven momentum holds. But while one big group of holders is buying strongly, there is one risk that traders should not ignore. That risk could not only stall the rally but also turn the setup bearish. Sponsored Sponsored Whales Buy The News, But Not Without The Risk One of the strongest drivers of Dogecoin price has been whale activity. Whales are wallets that hold more than 1 billion DOGE each. In just the last 24 hours, this group increased its stash from 71.67 billion to 71.90 billion DOGE. At current prices near $0.25, that equals more than $57 million worth of coins. Dogecoin Whales. Image Source: Santiment When whales increase their holdings, it often shows they expect higher prices ahead. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. However, there is a big risk flashing on-chain. The Net Unrealized Profit/Loss (NUPL) ratio, which tracks how much of the supply is in net profit, has climbed to 0.36. This is the highest monthly level, up from 0.25 on September 1. Historically, when NUPL reaches this kind of local peak, Dogecoin often sees a quick correction. Dogecoin Net Profit Level Peaks: Glassnode Sponsored Sponsored For example, on August 22, NUPL peaked around 0.34. At the same time, Dogecoin fell from $0.24 to $0.21 within just a few sessions, a drop…
The post Dogecoin Price Eyes 50% ETF-Led Rally, But One Risk Lingers appeared on BitcoinEthereumNews.com.
Dogecoin is currently trading at $0.249, up 44.4% in the past three months. In the last 24 hours, it has gained 4.2%, helped by excitement as the Dogecoin ETF ($DOJE) is expected to go live today. Over the past seven days, the Dogecoin price is up 16%, while the past month shows a gain of about 12%. Short- and mid-term signals both look positive, and charts suggest a rally of nearly 50% could be possible if ETF-driven momentum holds. But while one big group of holders is buying strongly, there is one risk that traders should not ignore. That risk could not only stall the rally but also turn the setup bearish. Sponsored Sponsored Whales Buy The News, But Not Without The Risk One of the strongest drivers of Dogecoin price has been whale activity. Whales are wallets that hold more than 1 billion DOGE each. In just the last 24 hours, this group increased its stash from 71.67 billion to 71.90 billion DOGE. At current prices near $0.25, that equals more than $57 million worth of coins. Dogecoin Whales. Image Source: Santiment When whales increase their holdings, it often shows they expect higher prices ahead. Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. However, there is a big risk flashing on-chain. The Net Unrealized Profit/Loss (NUPL) ratio, which tracks how much of the supply is in net profit, has climbed to 0.36. This is the highest monthly level, up from 0.25 on September 1. Historically, when NUPL reaches this kind of local peak, Dogecoin often sees a quick correction. Dogecoin Net Profit Level Peaks: Glassnode Sponsored Sponsored For example, on August 22, NUPL peaked around 0.34. At the same time, Dogecoin fell from $0.24 to $0.21 within just a few sessions, a drop…
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