Before all this China banocalypse,the largest DOGE exchange in China,BTC38 had about 11.46 billions of DOGE in their cold wallet - D8EyEfuNsfQ3root9R3ac54mMcLmoNBW6q. From 13-15th.Sep,about 50% went to Poloniex and Bittrex,causing massive drop of price from 36 to 22 sat.Now, there are 6.2 billions of DOGE in BTC38 Doge wallet ,so we have to expect one more big wave of selling till to final closure of exchange.Problem is that market on Poloniex and Bittrex is not so deep to absorb one more big wave of selling - just 2 billions deep of DOGE Buy orders (to 7sat) on Poloniex.We will probably see DOGE on all time low price, 4-7 sat and then slow recovery.
Interesting analysis, thunderjet.
If this happens I will buy again at 10 and at 5 sat and hope the second half of your prediction comes true. If China stays out of the market it could take a year or more, but if they re-enter, the price could recover very quickly to the old level.
Hm, that is really low, 5 or 7 satoshi. This will surely be a stress period for all those who hold DOGE.
I dont, for now, but might consider it getting back on the boat and ride this bull. Will see. So for now, I will watch this bleeding all over the floor. DOGE is not the only one bleeding out, if you can comfort yourself with this.
