Dogecoin Faces Volatility with Massive Coin Unlock
Main Idea
Dogecoin is set to release 95.5 million DOGE into circulation, potentially causing short-term volatility, but market liquidity and key support levels may mitigate significant price drops.
Key Points
1. Dogecoin will release 95.5 million DOGE (worth $22.9 million) between July 28 and August 4, which could impact its price volatility.
2. The daily trading volume of Dogecoin exceeds $700 million, suggesting the new supply may not significantly disrupt liquidity.
3. Dogecoin is currently trading around $0.24, with short-term support at $0.22 and resistance at $0.28.
4. The 50-day exponential moving average provides strong support at $0.22, which could prevent further declines if the price drops.
5. Historical data shows that similar coin unlocks have not caused significant long-term price declines, suggesting limited downside risk.
Description
Dogecoin is releasing 95.5 million DOGE, maintaining price stability with high liquidity. Regular coin unlocks reduce surprises, keeping Dogecoin investors well-prepared. Continue Reading: Dogecoin Faces Volatility with Massive Coin Unlock The post Dogecoin Faces Volatility with Massive Coin Unlock appeared first on COINTURK NEWS .
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