|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
DOGE Surges in Trading Volume - Growing Investor Confidence?
Oct 10, 2024 at 08:04 pm
Although data shows Dogecoin (DOGE) dropped by 2.59%, trading at $0.1063, the popular meme cryptocurrency has hidden bullish potential.
Dogecoin (CRYPTO: DOGE) price dropped over 2% on Monday evening but the popular meme cryptocurrency appeared to have hidden bullish potential.
Over the past 24 hours, dogecoin soared in market volume by 22.78%. This brought the total volume of dogecoin that exchanged hands to over 6.2 billion.
What Happened: The surge in dogecoin market volume signaled two important aspects — increased interest and liquidity. Both these factors stabilized the market and could prevent a sell-off from dogecoin holders, especially whales.
When trading volume rises, it showed that a larger number of buyers and sellers participated in the trade in a nearly balanced interaction. Hence, even dogecoin whales’ actions did not largely affect the coin's price. Whales were able to sell their position without causing a steep price decline.
The prevailing market performance of dogecoin showed that the meme coin may soon experience a price rebound. Higher trading volume also signaled growing confidence of investors in the asset. This renewed confidence could help maintain stability and a price rebound soon.
With this increased volume, short-term traders may also choose to bet on dogecoin. If that happens, the market activity will get a further boost and prevent a sharp sell-off, which would have caused a sustained price decline.
Dogecoin Record Highlights:
The 6.2 billion record for dogecoin underscored several important predictions for the coin.
Amidst increasing uncertainty in the broader meme coin domain, the long-awaited dogecoin reset may begin from this point.
The boost in trading volume may also prevent panic selling from asset holders. This stabilization and rising volume may set dogecoin on a fresh path of upward price movement.
Dogecoin Price Action: DOGE price faced a crucial stress test recently but showed resilience by rebounding from the $0.1050 level.
With volume and whale actions picking up pace, dogecoin price may move in line with a recent prediction from top analyst Ali Martinez, who noted that a dogecoin price rally is up next.
DOGE traded 2.2% lower at $0.1063 over 24 hours at press time.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Toncoin (TON) Reenters the Spotlight Amid a Large-Holder Transaction Boom
- Oct 11, 2024 at 12:25 am
- Toncoin (TON) has reentered the spotlight amid a large-holder transaction boom. According to data from crypto analytics platform IntoTheBlock (ITB), TON whale transactions have jumped by more than 93% in 24 hours, with over $8 billion shifting hands.
-
- Constellation Network Announces “HyDef ‘24” Conference in San Francisco, California
- Oct 11, 2024 at 12:25 am
- Constellation Network’s “HyDef ‘24” conference will take place on Thursday, October 24, 2024, featuring a free daylong virtual event combined with a live in-person event for a nominal fee at 1 Hotel in San Francisco.
-
- Music (NFT) Non Homogenous Token Market - Size, Share, Outlook, and Opportunity Analysis, 2023-2030
- Oct 11, 2024 at 12:25 am
- The growth trajectory of the Music (NFT) non homogenous token market is primarily driven by innovations in specific technologies or products and their expanding applications across various industries.