This suggests that DOGE holders or investors were somewhat over-leveraged in the market. Both long and short traders were subjected to liquidation as the market fell in value over the weekend.
According to CoinMarketCap, #DOGE is trading at $0.1556, meaning its price has fallen 2.1% in the past 24 hours. #Meme coin experienced volatility and rebounded from a low of US$0.1431 with a market volume of US$1.78 billion. The coin's trading volume is currently projected to increase significantly.
At the time of writing, DOGE's market capitalization has risen 33.10% to US$2.11 billion.
Can DOGE's "golden cross" create bullish momentum?
Despite the gloomy news, market watchers are following DOGE's performance with interest, noting that trading volumes are rising amidst continued liquidations. This means that other investors are confident in the meme coin's ability to rebound and soar to new levels.
According to a previous U. Today report, after a year of waiting, #Dogecoin is likely to reach a golden cross, which was last seen in November 2023; DOGE also reached a golden cross in 2022, and many trend watchers are still expecting a bullish signal for the meme coin in November this year.
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