Whale activity has lately surged in Dogecoin (DOGE), but instead of purchasing, it seems that big holders are selling their holdings. Whale behavior has changed as the amount and count of major DOGE transactions have reduced noticeably throughout the past few days. IntoTheBlock's on-chain analytics shows a sharp drop in big DOGE transaction count and volume. DOGE increased about 3% in October, trading around $0.1329, and the decline in whale activity could be indicating an approaching price adjustment.
DOGE Price Patterns And Whale Movement
The trip to Dogecoin in mid-September has been an emotional rollercoaster. Breaking out from a multi-month declining trend on September 18, the meme currency peaked in October at $0.1364. Recent data, however, points to a slowing down in the movement of big wallets (whales), with declining in volume and quantity of significant DOGE transactions. The direction of the change in the price of an asset depends much on whale activity. As these big wallet investors build DOGE, it creates increasing pressure that might set off rallies. Whales' profit-taking, on the other hand, usually raises selling pressure and causes price corrections. Whales have slowed down their activities, which begs issues regarding whether they are now focusing on other assets.
Why Are DOGE Whales Selling?
A loss of trading interest or expectation of a market correction could be among the various causes of the recent decline in whale activity. With a reading of 72.74, the Relative Strength Index (RSI) on the DOGE/USDT daily chart produced a sell signal. The asset is overbought when the RSI rises above 70, hence traders could want to take profits. Given DOGE's recent $0.1364, some whales might be choosing to lock in their gains under worries about a future pullback. Technically, too, there is a pessimistic attitude supported by Targeting support at $0.1171, where the 200-day Exponential Moving Average (EMA) rests, analysts project a possible 11.79% decline in DOGE's price. Should this crucial support level be tested, it might present buyers with a chance to step back in. On the other hand, should DOGE run a daily close over $0.1364, the bearish view might be refuted, therefore perhaps driving the currency into a resistance zone between $0.1583 and $0.1489. Fascinatingly, several Dogecoin whales are turning their attention to Rexas Finance (RXS), a relative newcomer to the blockchain scene. Thanks in part to its creative approach to real-world asset tokenizing, Rexas Finance has become popular among big investors. The initiative lately gained attention since it was listed on CoinMarketCap (CMC), therefore increasing its profile among the crypto community.
Rexas Finance (RXS): Another Aim for DOGE Whales?
At $0.06 apiece, Rexas Finance is in its fourth presale stage right now. Selling 83 million tokens throughout the first three stages, the initiative has already generated over $3.7 million. Once it reaches exchanges, the listing price is likely to rise sharply to $0.20, so offering a notable upside potential. Rexas Finance's already listed on CoinMarketCap lends legitimacy and attracts interest from big investors, including Dogecoin whales possibly looking for fresh prospects.
Whale activity has lately surged in Dogecoin (DOGE), but instead of purchasing, it seems that big holders are selling their holdings. Whale behavior has changed as the amount and count of major DOGE transactions have reduced noticeably throughout the past few days. IntoTheBlock's on-chain analytics shows a sharp drop in big DOGE transaction count and volume. DOGE increased about 3% in October, trading around $0.1329, and the decline in whale activity could be indicating an approaching price adjustment.
DOGE Price Patterns And Whale Movement
The trip to Dogecoin in mid-September has been an emotional rollercoaster. Breaking out from a multi-month declining trend on September 18, the meme currency peaked in October at $0.1364. Recent data, however, points to a slowing down in the movement of big wallets (whales), with declining in volume and quantity of significant DOGE transactions. The direction of the change in the price of an asset depends much on whale activity. As these big wallet investors build DOGE, it creates increasing pressure that might set off rallies. Whales' profit-taking, on the other hand, usually raises selling pressure and causes price corrections. Whales have slowed down their activities, which begs issues regarding whether they are now focusing on other assets.
Why Are DOGE Whales Selling?
A loss of trading interest or expectation of a market correction could be among the various causes of the recent decline in whale activity. With a reading of 72.74, the Relative Strength Index (RSI) on the DOGE/USDT daily chart produced a sell signal. The asset is overbought when the RSI rises above 70, hence traders could want to take profits. Given DOGE's recent $0.1364, some whales might be choosing to lock in their gains under worries about a future pullback. Technically, too, there is a pessimistic attitude supported by Targeting support at $0.1171, where the 200-day Exponential Moving Average (EMA) rests, analysts project a possible 11.79% decline in DOGE's price. Should this crucial support level be tested, it might present buyers with a chance to step back in. On the other hand, should DOGE run a daily close over $0.1364, the bearish view might be refuted, therefore perhaps driving the currency into a resistance zone between $0.1583 and $0.1489. Fascinatingly, several Dogecoin whales are turning their attention to Rexas Finance (RXS), a relative newcomer to the blockchain scene. Thanks in part to its creative approach to real-world asset tokenizing, Rexas Finance has become popular among big investors. The initiative lately gained attention since it was listed on CoinMarketCap (CMC), therefore increasing its profile among the crypto community.
Rexas Finance (RXS): Another Aim for DOGE Whales?
At $0.06 apiece, Rexas Finance is in its fourth presale stage right now. Selling 83 million tokens throughout the first three stages, the initiative has already generated over $3.7 million. Once it reaches exchanges, the listing price is likely to rise sharply to $0.20, so offering a notable upside potential. Rexas Finance's already listed on CoinMarketCap lends legitimacy and attracts interest from big investors, including Dogecoin whales possibly looking for fresh prospects.
Why is Rexas Finance Drawing Dogecoin Wales?
Although Dogecoin's appeal is in its community and meme culture, Rexas Finance distinguishes itself with real-world use cases and modern tools. The following explains why DOGE whales have drawn interest in RXS:
Rexas Finance specializes in tokenizing actual assets including real estate, commodities, and financial instruments. This enables fractional ownership and trading of traditionally illiquid assets, hence distributing access to investment possibilities. Tokenizing real-world assets is expected to generate a multi-trillion-dollar worldwide market, so this industry presents a great prospect for investors looking for a long-term increase. The token builder of the platform makes it simple for users to tokenize assets, therefore enabling their easy creation of asset-backed tokens. Rexas Launchpad: This tool gives startups a stage to release fresh tokens and helps initiatives in token sales capital raising. Working with messaging programs like Telegram and Discord, Rexas QuickMint Bot lets users mint tokens straight from their messaging platforms, hence improving accessibility and convenience. Rexas Finance uses artificial intelligence (AI) and distributed finance (DeFi) to maximize smart contracts for more security and efficiency. The presale phases provide appealing rates for early adopters; the current price is $0.06 per RXS. Early investors stand to benefit significantly should the token reach its target price given the planned listing price of $0.20. For Dogecoin whales, this offers a chance to diversify their assets and maybe get better returns in a project with real-world application.
DOGE and RXS's Road Ahead
Although Dogecoin has shown that it can grab the attention of the market with viral trends and community-driven movements, its reliance on hype could restrict its long-term potential relative to initiatives like Rexas Finance, which has a more basic method of value creation. The change in whale focus implies that even big investors are diversifying their approaches to include projects with actual uses, such as asset tokenization. Both Dogecoin and Rexas Finance can witness notable price swings as the next bull market gets ready. Still, the elements causing their increase could be somewhat different. While Rexas Finance will try to profit from the rising trend of tokenizing real-world assets and providing creative DeFi solutions, Dogecoin's success will probably depend on fresh excitement, community support, and possible use cases like payments integration. The market is clearly changing as seen by the increase in Dogecoin whale activity followed by a clear slowing down. Some whales are focusing on newly developing initiatives like Rexas Finance (RXS) as they lower their positions in DOGE. Rexas Finance offers a good prospect for investors seeking exposure to asset tokenization and decentralized finance with its present presale price of $0.06 and recent listing on CoinMarketCap. Whether the meme currency will find support or undergo a deeper decline remains to be seen as its price gets near a turning point. Rexas Finance's innovative qualities and rising appeal among whales could help it to stand out in the changing crypto
