Retail Buyers Aren’t Driving the Latest Dogecoin Rally

May 4, 2021

Retail Buyers Aren’t Driving the Latest Dogecoin Rally

Although Mentions of the enigmatic cryptocurrency Dogecoin (DOGE-USD) have been elevated for the better part of 2021, the number of retail investors talking about buying the coin has slowed significantly.

On a 7-day moving average, Mentions of investing in Dogecoin are well below the levels seen during the prior to runs higher.

DOGE-USD is up +32% at a new ATH today, despite the rest of the market (BTC included) showing weakness. This suggests that larger entities are finally starting to take notice, which is excellent news for long-term Dogecoin hodlers.

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