Post
Topic
Board Bitcoin Discussion
Re: Notice that while BTC & ETH fall, Doge is Stable
by
Ghepetto
on 19/06/2022, 03:04:15 UTC
Yes I did notice, but only if I look at the past 4 to 7 days

In my opinion this is why:

Do a simple chart analysis of Doge volume on Binance for 2021/01/27 and 2021/01/28, I'll give it to you-was it close to 100 billion coins per day.

In circulation are 132,670,764,300 DOGE


So in two days the trade volume exceeded the total number of coins in circulation, almost by two.

So how many is Elon (or his child or whoever it was) still holding?  Regardless of whatever I think that number is, it is clear to me that an extremely significant % of Dogecoin has been taken off the market and has not been dumped or we would be sub 1 cent by now, easily.

In other words there may be a whale that has taken hodling all the way to hoarding.

An epic dump may be incoming if these are liquidated (and if I am correct), but I believe there is a good chance the number of holders has been drastically reduced.   And the whale(s) that still hold have yet to dump.

Good or bad?   We shall see.