Crypto Express

07/11 05:24

Why are traders pulling Dogecoin from exchanges?

Why are traders pulling Dogecoin from exchanges?

Spot Netflow data reveals that over $8.5 million in DOGE was pulled from exchanges on the 10th of July alone. This extends a broader trend of sustained outflows, pointing to investor preference for self-custody or long-term holding strategies. 

Such behavior often precedes accumulation phases, as participants move funds off exchanges to reduce sell-side pressure. 

While this does not guarantee price increases, it reduces the availability of DOGE for immediate sale, potentially tightening supply.

However, if these outflows reverse unexpectedly, it may signal profit-taking, which could pressure price recovery efforts.

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