I'm sure you've seen the flash dumps on doge, triggering stop losses on it across the board - generally, when something flash crashes, from what I've seen, it slowly/eventually bleeds down to that flash crash level
however, not really on this scale before, so it's kind of unknown waters
The potential on doge is pretty huge - looking at the order books on polo, the entirety of the 1-2k sat range WAS completely uniform on the sell side, showing heavy market manipulation. Right now it flattened out, but a few days ago it was quite different.
these flash dumps - it could be whales just grabbing easy double profits and then cashing out, however, a MASSIVE buy wall has formed since these flash dumps started
usually, massive sell walls indicate whales holding the price down short term, and they slowly remove the wall and sell to people who think there is high buying pressure - this is how pumps happen
These buy walls though - they serve to push the price upwards short term, and get removed when the whales want to drop the price. We can see these walls on BTC and ETH. At the start of June, a massive wall formed on LTC. We've all seen what happened to these coins - yes, btc and ETH tanked recently, but they first went UP - dramatically. We also saw the recent ltc push up after the buy wall formed, though for both this and ETH these were after consistent downward pressure.
These flash dumps also flipped the C - clamp around on DOGE, so it now seems to need to correct upwards.
Doge could be in the middle of a correction down to 50 sats, but it could also about to get pumped very hard. Very risky. (yes yes I know, "oh wow the price could go up or down? much future, very predict.")
Personally, I will wait for it to move above the cloud before I commit anything, as I have safer longs that I can be in.
However, for anyone feeling risky, doge may be a good option.
however, not really on this scale before, so it's kind of unknown waters
The potential on doge is pretty huge - looking at the order books on polo, the entirety of the 1-2k sat range WAS completely uniform on the sell side, showing heavy market manipulation. Right now it flattened out, but a few days ago it was quite different.
these flash dumps - it could be whales just grabbing easy double profits and then cashing out, however, a MASSIVE buy wall has formed since these flash dumps started
usually, massive sell walls indicate whales holding the price down short term, and they slowly remove the wall and sell to people who think there is high buying pressure - this is how pumps happen
These buy walls though - they serve to push the price upwards short term, and get removed when the whales want to drop the price. We can see these walls on BTC and ETH. At the start of June, a massive wall formed on LTC. We've all seen what happened to these coins - yes, btc and ETH tanked recently, but they first went UP - dramatically. We also saw the recent ltc push up after the buy wall formed, though for both this and ETH these were after consistent downward pressure.
These flash dumps also flipped the C - clamp around on DOGE, so it now seems to need to correct upwards.
Doge could be in the middle of a correction down to 50 sats, but it could also about to get pumped very hard. Very risky. (yes yes I know, "oh wow the price could go up or down? much future, very predict.")
Personally, I will wait for it to move above the cloud before I commit anything, as I have safer longs that I can be in.
However, for anyone feeling risky, doge may be a good option.