In this post. Dogecoin appreciates more than 12% after Elon Musk endorsed the Department of Government Efficiency (D.O.G.E.).
The #bitcoin price continues to hover around the $69,000 mark amid a $579.5 million outflow from the Bitcoin ETF.
As Trump supports cryptocurrencies and Harris supports regulation, traders are keeping a close eye on the tense election campaign.
#Dogecoin (DOGE) price rose more than 12% as major tokens turned red and the market fell ahead of the highly anticipated U. S. election. The price of bitcoin (BTC), the largest #cryptocurrency , hovered around $69,000 and seemed turbulent.
The market capitalization of the global cryptocurrency market fell slightly on a day considered the most important for digital assets in recent times. The market capitalization was $2.29 trillion and trading volume was $85.25 billion.
over the past 30 days, the price of Dogecoin has risen about 54%, thanks in part to unexpected support from Elon Musk. He attributed it to the Department of Government Efficiency (D. O. G. E. ), which he proposed to make government spending more rational.
Thanks to a one-day surge of more than 12%, #DOGE has reversed last week's decline and captured a long-term greenback; since the beginning of the year, Dogecoin is up 88%. DOGE is now trading at an average price of $0.168. The 24-hour trading volume rose 56% to US$3.2 billion.
According to Coinglass data, $17.31 million of bets (both long and short) on Dogecoin's price movement were liquidated in the last 24 hours. At the same time, $9.9 million (57%) of the liquidated bets were short. This suggests that traders expected the DOGE price to fall ahead of the big opening, but bullish sentiment prevailed.
the sharp rise in the DOGE price led to the growth of major meme tokens. Over the past 24 hours, the market capitalization of meme cryptocurrencies rose 5% to $57.41 billion. Trading volume increased 16% to US$ 6.75 billion in 24 hours.
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