Dogecoin Reservation Strategy by CleanCore: Gathering 1 Billion DOGE in a Month
CleanCore Technologies, a NASDAQ-listed company (symbol: ZONE), has significantly increased its Dogecoin (DOGE) holdings, recently acquiring an additional 100 million DOGE, bringing its treasury to a total of 600 million. This amounts to approximately 7.5 billion Dogecoins according to CleanCore Technologies' plan, positioning the company as a key liquidity driver heading into DOGE's Q4 setup.
The company's Dogecoin play could reinforce the Q4 upside base, with more accumulation lined up as CleanCore Technologies targets capturing 5% of the circulating Dogecoin supply. This ambitious goal, if achieved, would see CleanCore holding 12.5 billion DOGE.
The market sentiment towards Dogecoin is cautiously bullish, with the recent realized profits from Dogecoin surging to a yearly high of $1.15 billion, indicating elevated distribution flow. However, bears are cautiously watching for a potential July-style flush in Dogecoin, with some predicting a potential -30% decline.
Binance data shows 70%+ long skew on DOGE/USDT perps, suggesting stretched positioning among long-term holders. The FOMC risk event ahead could potentially trap late longs, putting the $0.26 bid wall at risk of breaking down.
Dogecoin [DOGE] is focusing on its store-of-value narrative, a shift from its original meme coin status. This strategic move could provide structural support for Dogecoin in Q4, aligning with CleanCore Technologies' roadmap.
Insights from a recent UK-U.S. crypto pact are being analyzed, with potential implications for the Dogecoin market. Meanwhile, ongoing tensions between GOP and Democrats regarding a potential U.S. CBDC ban could also impact the broader cryptocurrency market, including Dogecoin.
The current pullback in Dogecoin mirrors its July 2021 pullback, setting up a potential liquidity sweep/retest scenario. The remaining bid flow from CleanCore's treasury could play a crucial role in navigating this potential market volatility.
Source: TradingView (ZONE/USD)
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