Despite crypto market growth slowing down, Dogecoin’s value has remained relatively strong. The project’s value has increased by 17.70% in the last 30 days, and now Dogecoin could rise to $0.1. However, further analysis shows that the project could be in trouble. Dogecoin miners are selling their reserves, and whales are turning their Dogecoin into fiat. As a result, holders are now switching to Solana and Everlodge, which are expected to offer better returns.
Could Miner Action Be Bad News For Dogecoin?
At the time of writing, Dogecoin was trading at $0.09238. Its daily trading volume was half a billion, and most indicators look strong. However, miner activity suggests that Dogecoin growth may have peaked for 2023.
Recent data from IntoTheBlock indicates that Dogecoin miners have been offloading their reserves. In total, over 240 million DOGE (around $25 million) has been sold. According to analysts, this suggests that miners could be selling to cash out at Dogecoin’s peak. Further data on crypto whales shows that $41.5 million worth of DOGE was sold for fiat, implying that Dogecoin’s recent bull run could be ending.
Solana Bull Run Continues To Shock The Market
Solana was one of the best-performing cryptocurrencies in Q4. Its value increased by over 270%, and Solana’s daily trading volume has consistently passed over 2 billion. With its current trajectory remaining bullish, experts believe that Solana could continue to rise throughout December.
Solana recently hit a yearly high of $79.6, though has since declined slightly to $74.90. Despite this decrease, Solana is still up by 25% over the last month, and as a result, the altcoin remains extremely popular.
However, further chart analysis suggests that Solana could soon face a correction. Daily price movement shows that Solana is stuck between two converging trendlines. This rising wedge pattern often triggers a price rally before a correction. As a result, investors who buy soon may still be able to profit before Solana’s value declines.
Everlodge Could Challenge Top Altcoins In 2024
As confidence in Dogecoin falls, investors are looking for new ways to grow their portfolios. One new project that offers a number of opportunities is Everlodge. This exciting new altcoin is on track to offer returns of 280% during its presale, and experts believe its value could rise up to 35x upon release.
Everlodge is a unique project that lets investors buy equity in travel properties. This market is currently difficult to penetrate, being surrounded by red tape, high start-up costs, and location limitations. Everlodge removes all of these barriers.
Instead of using traditional routes, investors can sign up to Everlodge, search for properties they like, and start investing. For each investment they make, users will buy an NFT representing equity in a property. They will generate an income based on how much they own, in addition to how much the property makes. For example, if they own 20% of a luxury villa that makes $10,000 a month, the investor will generate $2,000 monthly.
Though not yet released, Everlodge has received significant attention from investors, and experts believe it could revolutionize one of the world’s largest industries. In addition to its marketplace, Everlodge will also offer a launchpad for property developments, as well as a private members club and free stays at properties for ELDG token holders.
This diverse world of opportunity is on track to become a big hit in 2024. Currently, ELDG tokens can be purchased for just $0.027, though will soon increase to $0.029 as stage eight of the Everlodge presale sells out.
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Source: https://cryptodaily.co.uk/2023/12/dogecoin-doge-price-leads-holders-to-switch-to-solana-sol-and-everlodge-eldg-ahead-of-bull-market