Bitcoin Drops Below $65,000 as Altcoins Start to Lose Gains

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Bitcoin has dropped below $65,000 once more, and altcoins are beginning to lose gains exceeding 5%. The continuation of this volatile trend is unsurprising, given the uncertainty surrounding the level of rejection the SEC will issue for Ether ETF applications next week. Investors are closely monitoring the decision, as the SEC wages a war on crypto enforcement. So, what are the predictions for DOGE?
Dogecoin (DOGE)
Despite a significant attempt, DOGE, the largest meme coin by market value, encountered a barrier due to BTC's price weakness. Nonetheless, it continues to hold the $0.15 level. Whales have been actively accumulating DOGE recently. Addresses holding between 10 million and 100 million DOGE accumulated 500 million DOGE last week. These whales, who have increased their supply to 17.57 billion, have amassed over $77 million.

Whales, who are accumulating strongly rather than selling, believe prices will rise. However, the decline in active addresses slightly dampens this appetite. The weakening activity on the network is a concerning detail for the short- and medium-term future of the price. Indeed, in the last two months, the number of average addresses transacting on the Dogecoin network has dropped by over 20%.

The average active addresses, which have fallen from 67,000 to 52,000, do not favor the bulls, especially considering the current BTC negativity. This deviation indicates a possible price drop.
DOGE Price Prediction
Dogecoin's current price, hovering at $0.15, indicates a 2% decline. The price, which avoided a major drop after escaping the death cross last week, is prevented from rapid sales by maintaining $0.15 as support. If the bulls cannot surpass $0.17 and turn it into support again, we may see the price stuck in this narrow range for a longer period.

In an optimistic scenario, the target is a rally attempt to $0.2 for a bigger peak. However, the likely scenario for DOGE, as suggested by BTC losses, is a continued series of sales towards $0.14 and $0.12 supports. If losses continue, we could see a drop to $0.08.
At the time of writing, Bitcoin's price was at $64,900, while Ethereum had fallen below $3,000 again.
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