Frequent Dogecoin On-Chain Transfers, Price Fluctuation Risks Worth NotingData from Tokenview.com shows that there were 1,626 large transfers of DOGE exceeding 1,000,000 DOGE yesterday, a 4
Frequent Dogecoin On-Chain Transfers, Price Fluctuation Risks Worth Noting
Data from Tokenview.com shows that there were 1,626 large transfers of DOGE exceeding 1,000,000 DOGE yesterday, a 4.5% increase from the previous day, but a 93.65% decrease from the average number of large transfers over the past 7 days. DOGE's on-chain transaction volume in the past 24 hours was 844,153,850,472.21 DOGE, an increase of 205.48% compared to the previous 24 hours, and the number of on-chain transactions was 31,545, an increase of 3.73% compared to the previous 24 hours.
Since December 27th, there has been a significant increase in the number of Dogecoin on-chain transfers. This phenomenon has attracted market attention, and many analysts believe that after a surge and crash in Dogecoin's on-chain transaction volume, the price often experiences significant fluctuations, and investors need to be aware of the associated risks.
It is important to note that changes in Dogecoin's on-chain transaction volume do not directly reflect the direction of the price. Other factors, such as market sentiment, policy changes, and technological developments, can also impact the price. Investors should consider all factors and conduct a thorough risk assessment when making investment decisions.
Disclaimer: This article does not constitute any investment advice.
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