Dogecoin Decreases More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Dogecoin (CRYPTO: DOGE) has seen a 4.03% price drop in the last 24 hours, continuing a weekly downward trend with a 6.0% loss. Trading volume has decreased by 60%, and the circulating supply has slightly declined. Despite the dip, Dogecoin maintains the #11 market cap rank.
December 18, 2023 | 3:00 pm
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NEGATIVE IMPACT
Dogecoin's price has fallen by over 4% in 24 hours and 6% over the week, with a significant decrease in trading volume and a slight reduction in circulating supply.
The price drop and decrease in trading volume indicate a bearish short-term sentiment among investors, which could lead to further declines in the short term. The reduction in circulating supply might not be significant enough to counteract the negative price action.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100