Dogecoin Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Dogecoin (CRYPTO: DOGE) has experienced a 4.84% decrease in price over the last 24 hours, marking a continuation of its 12% decline over the past week. The trading volume has dropped by 33%, and the circulating supply decreased by 0.76%, with Dogecoin's market cap ranking at #9.
April 29, 2024 | 3:01 pm
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NEGATIVE IMPACT
Dogecoin has seen a significant price decrease of 4.84% in the last 24 hours, with a 12% decline over the past week, and a drop in trading volume by 33%.
The significant decrease in Dogecoin's price over the past 24 hours and week, combined with a substantial drop in trading volume, indicates a negative short-term impact on its value. The reduction in circulating supply, while typically a positive factor for value, is overshadowed by the larger negative trends.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100