Dogecoin

when

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/dogecoin-price-challenges-market-trend-with-weak-movement/" data-wpel-link="internal">Dogecoin Price Challenges Market Trend with Weak Movement</a><br></p>
<p style="text-align: justify">Following the recent broader cryptocurrency market recovery, <strong><a href="https://coin-turk.com/vakit-geldi-dogecoin-alinir-mi-guncel-doge-yorumlari" data-wpel-link="internal">Dogecoin</a> (<a href="https://coin-turk.com/son-dakika-elon-muska-dogecoin-doge-davasi" data-wpel-link="internal">DOGE</a>)</strong> price today, April 9, exhibited a weakening price movement, which could challenge the broader market trend. A combination of factors within the <strong>cryptocurrency</strong> could potentially pull <a href="https://en.coin-turk.com/elon-musk-skyrockets-dogecoin-doge-with-a-single-move/" data-wpel-link="internal">DOGE</a>‘s price into a downtrend.</p> 
<h2 id="whale-activity-in-doge">Whale Activity in DOGE</h2> 
<p style="text-align: justify">According to data from <strong>21milyon.com</strong>, the weakening price trajectory of <a href="https://en.coin-turk.com/dogecoin-developer-puts-an-end-and-looks-ahead-to-the-future/" data-wpel-link="internal">Dogecoin</a>, falling below $0.2 as of the writing of this article, brings with it numerous downtrend factors, including massive whale dumps and a loss of investor interest indicated by on-chain data.</p> 
<p style="text-align: justify">On-chain data prepared by <strong>Coinglass</strong> shows that DOGE’s derivatives volume has reached $3.97 billion, a notable decrease of 5.04%. Open positions have also decreased by 1.44%, reaching $1.66 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-339072 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/IMG_8584.jpeg" alt="" width="1290" height="568"></p> 
<h2 id="current-data-on-doge">Current Data on DOGE</h2> 
<p style="text-align: justify">This situation could indicate a significant decline in market activity for DOGE, and when combined with the OI weighted funding rate remaining at 0.0347%, the data points to a significant decrease in investor interest in the token. Moreover, as the price continues to fall, this data could underline the overall downtrend in the market.</p> 
<p style="text-align: justify">In the last 24 hours, 58,052 traders were liquidated, with total liquidations valued at $195.92 million. Dogecoin liquidations reached a total of $5.36 million, with long positions at $3.01 million and short positions at $2.34 million. This could emphasize the prevailing downtrend in line with DOGE’s decline among cryptocurrency market analysts and investors. Additionally, according to data from Whale Alert, today a surprising 245 million DOGE were transferred to the American exchange Robinhood by an unknown address. This further intensified the downtrend for DOGE, indicating the whale’s loss of confidence in the token and revealing increases in token supply on exchanges. Although the <strong><a href="https://coin-turk.com/teknoloji-devi-intelden-blockchain-patenti" data-wpel-link="internal">Blockchain</a></strong> tracker also highlighted DOGE accumulations, it seems that massive accumulations indicating a downtrend have influenced the DOGE wave in the market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/dogecoin-price-challenges-market-trend-with-weak-movement/" data-wpel-link="internal">Dogecoin Price Challenges Market Trend with Weak Movement</a></h5>

Dogecoin Price Challenges Market Trend with Weak Movement

Table of Contents

COINTURK NEWS

Другие статьи, опубликованные 9 апр. 2024 г.

BitMEX CEO Arthur Hayes Predicts BTC Price Slump After Bitcoin Halving

Why Bitcoin Prices Are Falling

Bitcoin Faces Pressure Around $69K Ahead Of CPI Release! What’s Next For BTC Price?

Harga Bitcoin Digadang Bakal Melesat ke US$200.000 Pasca Halving

Key Crypto Events Including Binance Listing SAGA, Ethena Staking, and Toncoin’s Web3 Phone

Bitcoin (BTC) on Track for All-Time High If It Holds Above This Level

Join our free newsletter for daily crypto updates!