Dogecoin 'Relative' Shoots Up 24% As Retail Traders Shower Some Love

Dogecoin (CRYPTO: DOGE) relative Litecoin (CRYPTO: LTC) gained 23.80% in the last 24-hours amid FTX (CRYPTO: FTT) fallout. What Happened: At the time of writing, LTC was trading at $76.97, up 29.73% in the last seven days.

Timeline of Dogecoin

Dogecoin price analysis is going through a loss as the price underwent a decline up to $0.07367 today. The downtrend has been quite constant since the start of the week, and even today the price has followed a downward movement.

Dogecoin (CRYPTO: DOGE) was sliding over 5% lower during Monday's 24-hour trading session, desperately trying to hold above the 200-day simple moving average (SMA) on the daily chart, which the crypto regained following news that Elon Musk's Twitter acquisition would close. The bears briefly dropped the crypto under the important level on Monday afternoon, but bulls came in and bought the dip.

Top whales continue to increase their holdings with their favorite crypto tokens as the crypto prices fall lower following the collapse of FTX. The fourth largest BNB whale “Sabo” has just bought 53,501,879 Dogecoin (DOGE) as the price reaches near the bottom.

On 20 November 2022, Alex Valaitis, Founder of Web3 consulting firm W3T, shared his thoughts on Dogecoin ($DOGE). Popular meme-based cryptocurrency Dogecoin ($DOGE) was initially released on 6 December 2013, as a “fun and friendly internet currency.” It was created by Billy Markus and Jackson Palmer.

Popular meme coin Dogecoin (DOGE) secured a decent spot in the ranking of top cryptos and the corresponding “stress levels” that affect those who invest in the token. At the best of circumstances, investing your hard-earned money in a constantly changing market may be difficult.

Dogecoin price analysis for November 20, 2022, shows the meme cryptocurrency following a declining movement for the last 48 hours. The price crashes from $0.0866 to $0.0832 on November 19, 2022.

Dogecoin (DOGE) price is down, but small unresolved candlesticks have dominated the price movement. These candlesticks indicate that both buyers and sellers are uncertain about the direction of the market.

Dogecoin whales were involved in about $3.5 million transactions in spite of the Elon Musk culture change at his new company The meme might need to endure its stay on the bearish zone considering revelations per price action Since Elon Musk took over Twitter, the Dogecoin [DOGE] community has remained hopeful of more substantial recognition.

Dogecoin is still a strong contender for the attention of cryptocurrency investors who are chasing assets with the most potential. Larger assets and market leaders such as Bitcoin and Ethereum have often provided this for investors with large profit margins, but with the crypto winter, Dogecoin has seen more upside compared to its larger counterparts.

Dogecoin price has been at the mercy of larger market momentum and DOGE whales that continue to push for gains.  The post Whales Continue Stacking Dogecoin (DOGE) Despite Rising Crypto Market Risks appeared first on BeInCrypto.