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Dogecoin Whales Keep Buying but DOGE Price Keeps Droping

TL:DR; Dogecoin whales have gone on a real accumulation streak in the past few days, but the asset’s price has yet to recover from the substantial losses charted on a weekly scale. Nevertheless, analysts remain bullish, predicting that DOGE has hit its low during this cycle and will bounce off soon. DOGEUSD. Source: TradingView It wasn’t all that long ago when DOGE’s price stood well above $0.4. In fact, the last time the OG meme coin traded above that threshold was on January 21, when it briefly spiked above it. However, its downfall began immediately, and it has not touched that line ever since. The most substantial slump came during Monday morning’s market-wide crash when all crypto assets bled out , and DOGE was among the poorest performers with a price dump to $0.2 (a two-month low). The market started its recovery shortly after, and Dogecoin even neared $0.3 on Tuesday but was quickly rejected and is down to under $0.25 as of now. This represents a 25% decline on a weekly scale. This substantial correction comes despite Dogecoin whales’ behavior, which has been quite bullish. As reported on Thursday, these large market participants had accumulated over 750 million DOGE during the crash. They kept buying in the following days and added another 100 million within a 24-hour period, thus further reducing the available supply. Whales have accumulated another 100 million #Dogecoin $DOGE in the last 24 hours, signaling growing confidence and demand! pic.twitter.com/HKuseWubtN — Ali (@ali_charts) February 7, 2025 None of those purchases have materialized in a price rebound yet. However, this hasn’t deterred certain analysts from predicting a strong recovery, given DOGE’s historical performance. Trader Tardigrade said the meme coin had copied its 2017 price movements, and it seems to have bottomed out, which could propel it toward a new all-time high soon. KrissPax acknowledged the substantial correction but said such moves occur every cycle and are to be expected. He noted that they tend to shake out weak hands but are actually ‘excellent times to buy more on dips and prepare for what’s coming.’ Big pullbacks in the Dogecoin price happen EVERY cycle. They shake out weak hands and completely sour market sentiment. Strong rebounds follow in overall bull markets. These pullbacks are excellent times to buy more on dips and prepare for what’s coming. $DOGE pic.twitter.com/xHywN9RWDa — KrissPax (@krisspax) February 7, 2025 The post Dogecoin Whales Keep Buying but DOGE Price Keeps Droping appeared first on CryptoPotato .

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Ripple’s XRP Sees Recovery as Market Eyes Potential U.S. Reserve Inclusion

XRP has shown signs of price recovery in recent developments. Market experts emphasize critical price levels for XRP’s upward trend. Continue Reading: Ripple’s XRP Sees Recovery as Market Eyes Potential U.S. Reserve Inclusion The post Ripple’s XRP Sees Recovery as Market Eyes Potential U.S. Reserve Inclusion appeared first on COINTURK NEWS . Crypto Potato

Bitcoin Retests $100K Following Mixed US Job Report

Bitcoin (BTC) surged above $100,000 before a flash correction as low sentiments grip traders. This came on the heels of a slowing job report in the United States, setting the tone for cooler Fed policies. Risky assets like Bitcoin marked an hourly rebound, coupled with analysts projecting a stronger recovery. Stocks also traded in the same direction after US trade rifts and tension stalled growth. US Added 144K Jobs In January The Labor Department’s Job Report showed that nonfarm payroll increased by 143,000 last month despite the California wildfires and Donald Trump’s policy concerns. This fell short of figures projected by economics, sparking mixed reactions from various markets. Several analysts predicted last month’s numbers to come in above 170,000. Similarly, the Labor Department noted that the unemployment rate dropped to 4% from 4.1%, marking an eight-month low. “ The unemployment rate edged down to 4.0 percent in January, after accounting for the annual adjustments to the population controls. The number of unemployed people, at 6.8 million , changed little over the month. (See table A-1. See the note at the end of this news release.” This led to a 3% spike in hourly trading data as Bitcoin price broke the $100k resistance. Due to the upcoming Federal Reserve’s policy decision, a weaker job respect directly impacts risky assets. Cooler job data increases the likelihood of policy rate cuts by the Feds because the labor market is not as resilient for tighter measures. Lower interest rates are key for an upward march in Bitcoin and altcoin prices. This is due to increased liquidity and borrowing power as funds pour into these assets, while tighter rates will lead to outflows from the market. Last year, BTC prices spiked after the United States lowered interest rates. Low Sentiments Wipe Out Flash Gains The 3% surge recorded in BTC price was wiped off within hours as trading activity picked up. This week, Bitcoin has struggled to replicate its fine form last year, surging to its all-time high. At the time of writing, the asset’s price stands at $97,604, trading sideways today and a 6% decline in the last seven days. Low sentiments continue as whales’ volume plunged alongside asset transfers to centralized exchanges. Conversely, pro-BTC commentators say a long-term uptick is on the cards on the back of a positive U.S. regulatory landscape. Crypto Potato