Dogecoin Volume Spike To $2 Billion Might Be Bearish, Here’s Why
Dogecoin (DOGE) is experiencing heightened turbulence as on-chain metrics reveal a $2 billion surge in trading volume and an increase in whale movements. While such explosive market activity may be misconstrued as bullish, deeper analysis suggests a more bearish atmosphere, as large holders offload their positions amid waning retail demand. With DOGE prices consolidating near critical levels after its recent breakdown, analysts warn of an impending continuation of the downtrend as key supports fail to hold. Dogecoin $2 Billion Volume Surge Raises Red Flags On-chain data from TradingView....
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Dogecoin has been in a bearish sentiment among investors in the past week that even a tweet from Elon Musk referencing the cryptocurrency earlier in the week failed to do much to cause a price reversal. However, recent transaction volume indicates this might be changing into a bullish sentiment soon, as Dogecoin is finally getting […]
The Dogecoin price has failed to reach its all-time high peaks after repeated rallies and subsequent beat downs. So far, it has been a dance between testing major resistance levels, and bulls trying to hold support as sell-offs mount. During this time, there has been a lot of fluctuations in the volume of the meme coin. Using historical performance, the Dogecoin trading volume could give a hint for where the price could be headed next. DOGE Trading Volume Still Trending Low The Dogecoin trading volume has been trending low as the Dogecoin price has retraced over the last few months. This....
With a bearish market, the canine-themed meme coin Dogecoin suffered a major decline in trading volume. Investor interest also dramatically waned starting December 2021. Further, there was a huge 66% slump in trading volume from January to March of 2021. Things got even worse in February when Russia invaded Ukraine. Suggested Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter DOGE Slumps from 2021 In January this year, Dogecoin’s trading volume was at $33.51 billion. Comparatively, the trading volume in February 2022 dropped further to $22.44 billion. The trading price....
The Dogecoin price has crashed over 12% in the last day, providing a bearish outlook for the foremost meme coin. This price crash has occurred due to several factors including the bearish sentiment following the White House Crypto Summit. Why The Dogecoin Price Has Crashed Over 12% CoinMarketCap data shows that the Dogecoin price has […]
[Notice: All the price units are in Satoshi]. The Dogecoin price dropped around only 0.05% against the BTC in over the last 24 hours, but the overall bearish bias in its market continued to sustain. As you can see the 4H HITBTC chart above, the Dogecoin price continue to form lower lows near 40, adding further to the prevailing bearish bias. The Doge market has indeed reacted negatively to the Bitcoin's celebrated bullish rally, as it simply took away a notable chunk of trading volume from the meme cryptocurrency. As a result, we can see how Dogecoin price which, on February 8th, was being....