DOGE (Dogecoin) fell 4.25% in 24 hours

Gate News Bot news, on October 28, according to CoinMarketCap data, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.20, having fallen by 4.25% in the last 24 hours, with a high of $0.21 and a low of $0.19. The current market capitalization is approximately $30.266 billion, a decrease of $1.344 billion compared to yesterday.

Dogecoin is an open-source peer-to-peer digital currency that is loved by Shiba Inus all over the world. The core of Dogecoin is an unexpected cryptocurrency movement that makes people smile! It is also an open-source peer-to-peer cryptocurrency that utilizes blockchain technology, which is a highly secure decentralized information storage system maintained as a public ledger by a network of computers called nodes. More importantly, the spirit of Dogecoin is reflected in the Dogecoin manifesto and the vibrant community made up of friendly people like you!

Important news about DOGE recently:

1️⃣ Large whale accounts reactivated A large cryptocurrency holder, who has been inactive for 11 months, recently resumed activity by withdrawing 15.115 million DOGE (worth approximately $2.95 million) from a centralized exchange. The wallet address currently holds 15.19 million DOGE, with a total value of about $12.96 million. This move could affect market supply and raise investor attention to the behavior of large holders, potentially impacting short-term price trends.

2️⃣ Gate Contract Points Airdrop Event Ongoing Impact Gate launched the first phase of its contract points airdrop event on October 17th, selecting DOGE as the airdrop token. Users holding ≥12 Gate contract points can consume 10 points to receive 152 DOGE. This initiative continues to stimulate market demand, providing support for the DOGE price and is one of the potential factors for recent price fluctuations.

3️⃣ The trend of institutional investors increasing their holdings remains unchanged CleanCore Solutions has incorporated over 710 million DOGE into its financial reserves, with a total value of approximately $174 million, nearing its target of 1 billion DOGE holdings. The company has currently realized over $20 million in unrealized gains. The continuous accumulation by institutions reflects long-term confidence in DOGE, while potentially affecting market supply and providing support for DOGE prices.

From a technical perspective, the price of DOGE has fallen within the last 24 hours, possibly influenced by short-term profit-taking and fluctuations in market sentiment. However, fundamentally, the activity of large holders and continued accumulation by institutions has brought market attention to DOGE, which may provide support for the price in the medium to long term. Investors should closely monitor the overall trends in the global cryptocurrency market and the unique ecosystem development of DOGE.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.