According to crypto data tracker Whale Alert, there has been a notable movement of Dogecoin in the past 24 hours.
Whale Alert has reported significant Dogecoin movement, with over 631.3 million DOGE shifted in three transactions. Firstly, 92,313,653 DOGE valued at $6,812,612 moved from Robinhood to an unknown wallet. Secondly, a substantial amount of DOGE worth $35,261,581 was transferred from an unknown wallet to Bittrex. Thirdly, an unknown wallet deposited 70,087,832 DOGE, valued at $5,202,986, into Robinhood.
🚨 92,313,653 #DOGE (6,812,612 USD) transferred from #Robinhood to unknown wallethttps://t.co/e0NM0w5mGP
— Whale Alert (@whale_alert) November 21, 2023
Dogecoin Witnesses Bullish Golden Cross, First Since 2022
Dogecoin has confirmed a bullish crossover on its daily chart, as the Moving Average (MA) 50 rose above the MA 200, forming a golden cross. This marks the first occurrence of a golden cross since November 2022, following a previous death cross in March. The last golden cross in November 2022 preceded a surge to highs of $0.104 before a subsequent downturn.
Despite the appearance of the golden cross, Dogecoin, at the time of writing, recorded a 3.41% decrease in the last 24 hours, trading at $0.074.
Navigating Dogecoin’s Golden Cross
While the recent golden cross on Dogecoin’s daily chart signals a bullish trend, traders are advised to remain vigilant. Moving average crossovers can be perceived as lagging indicators, potentially occurring when the market is already overbought or oversold, hinting at a possible correction.
On-chain analytics firm IntoTheBlock brings attention to a notable uptick in active Dogecoin addresses, marking an 87.1% increase since early November. The count of active Dogecoin addresses surged from 48,470 on Nov. 1 to 90,690 by Nov. 20, portraying a positive trend for Dogecoin.
In a separate optimistic development, Pittsburgh-based Astrobotic aims to send a physical Dogecoin to the moon using the DHL Moonbox on Dec. 23, 2023, utilizing ULA’s Vulcan Centaur Rocket.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
Author
