Dogecoin Falls More Than 5% In 24 hours
Portfolio Pulse from Benzinga Insights
Dogecoin (CRYPTO: DOGE) has seen a price drop of 5.09% in the last 24 hours, descending to $0.08 despite a 4.0% increase over the past week. The trading volume surged by 77.0%, and the circulating supply rose by 0.46% to 142.76 billion. Dogecoin's market cap is currently ranked #10, valued at $11.96 billion.
January 22, 2024 | 3:03 pm
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Dogecoin has experienced a significant drop of over 5% in the past day, but shows increased trading activity and a slight uptick in supply. The market cap remains strong at $11.96 billion.
The immediate price drop of over 5% is a strong bearish signal in the short term, likely leading to a negative impact on investor sentiment. However, the increased trading volume and stable market cap suggest underlying interest and support for Dogecoin, which may cushion the fall.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100