"Who is trading? Dogecoin trading volume surges to 6.5 billion, and liquidation storm sweeps the market!"
In the past 24 hours, the price of Dogecoin (DOGE) fell below the $0.4 support level and closed at $0.36, a drop of more than 5%. At the same time, trading volume surged 57% to $6 billion, liquidations topped $31 million, long positions suffered losses of up to $25 million, and market volatility increased significantly.
The decline followed hawkish comments from Federal Reserve Chairman Jerome Powell, who suggested the pace of interest rate cuts in 2025 would be slower than expected, weighing on risk assets. From a technical perspective, the downward trend of DOGE has not yet been reversed. In addition, Bitcoin has failed to stabilize the key price, and there is insufficient momentum for a short-term rebound.
Nonetheless, analysts believe the current pullback may be an overreaction and that the long-term trend still has potential. Investors need to operate with caution and wait patiently for the market to recover. More in-depth analysis
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