Dogecoin Falls More Than 4% In 24 hours
Portfolio Pulse from Benzinga Insights
Dogecoin (CRYPTO: DOGE) has seen a 4.75% decrease in price over the last 24 hours, now at $0.15, contrasting with a 21.0% increase over the past week. Trading volume dropped by 37.0%, while the circulating supply slightly rose by 0.07%, reaching 144.20 billion. Dogecoin's market cap ranking is now #9 at $21.72 billion.
May 08, 2024 | 3:01 pm
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NEGATIVE IMPACT
Dogecoin's price fell by 4.75% to $0.15 over the last 24 hours, despite a 21% increase over the past week. The trading volume has decreased by 37%, and the circulating supply has slightly increased.
The short-term price drop of 4.75% in Dogecoin, despite its recent weekly gains, indicates a potential volatility in its market value. The decrease in trading volume suggests less trading activity, which could further impact its price negatively in the short term. The slight increase in circulating supply might also contribute to the price pressure. Given these factors, the short-term outlook for Dogecoin appears bearish.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100