Dogecoin Decreases More Than 8% Within 24 hours
Portfolio Pulse from Benzinga Insights
Dogecoin (CRYPTO: DOGE) has seen a price drop of 8.55% in the last 24 hours, descending to $0.09 despite a 5.0% increase over the past week. The volatility is evident from the widening of Bollinger Bands in the provided chart. Trading volume has surged by 44.0%, while the circulating supply slightly decreased by 0.14%, with the current supply at 142.19 billion. Dogecoin's market cap is now ranked #10, valued at $13.15 billion.
December 11, 2023 | 7:00 pm
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Dogecoin has experienced a significant drop of 8.55% in the past day, despite an overall positive trend in the past week. The increase in trading volume alongside a slight decrease in circulating supply may indicate heightened investor interest and potential price instability.
The sharp decline in Dogecoin's price over the last 24 hours is a strong bearish signal, especially following a period of gains. The increased trading volume suggests that there may be more active trading, which could lead to further price fluctuations. However, the market cap ranking indicates that Dogecoin remains a significant player in the cryptocurrency market, which may buffer some of the negative impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100