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Hi everyone! 🌟 Today, the cryptocurrency market is showing some interesting changes. The total market capitalization of cryptocurrencies is approximately $3.7 trillion, which is a 6.1% increase over the last 24 hours. Bitcoin remains the leader with a dominance of 52.1%, while Ethereum holds the second place with 12.3%. Among the biggest gainers today are the XRP Ledger Ecosystem and Binance HODLer Airdrops.
As for Dogecoin, its price today is around $0.41. Dogecoin remains popular due to its active community and support from notable figures like Elon Musk. This cryptocurrency, originally created as a joke, has turned into a serious asset with a large following.
If you're investing in cryptocurrency, don't forget to keep up with the news and analyze the market.
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Hello! Today, the cryptocurrency market is experiencing a slight decline. The total market capitalization of cryptocurrencies is approximately $3.43 trillion, which is 0.80% less than yesterday.
Bitcoin and Ethereum are showing some positive movement, while other major cryptocurrencies like Tether and Solana are relatively stable. XRP has seen a notable increase in value.
📊 Dogecoin's drop to the $0.35–$0.37 support zone aligns with Bitcoin's recent correction. 🟢 This level remains strong, and DOGE is likely to rise soon, targeting $0.42 and $0.45 as Bitcoin stabilizes 📊NEUTRAL: $DOGE (4H) #DOGEUSDT | #DOGE | #Dogecoin
Current Price $0.37 Market Cap $55.40B Change 1h -2.43% | 24h -13.62%
Analysis: Dogecoin is finding solid ground between $0.35-$0.37, thanks to Bitcoin's recent correction. As Bitcoin stabilizes, DOGE looks ready for a comeback. The chart suggests a bounce, aligning with other positive technical indicators.
Price Targets: Look for a rise to $0.42 and potentially $0.45. These levels mark key resistances where profit-taking might occur. Watch closely for Bitcoin's movement for further insights!
An analysis of Dogecoin (DOGE) in the context of the global geopolitical situation shows that the cryptocurrency remains vulnerable to global events and investor sentiments. Here are some key factors affecting DOGE:
1. Military Conflicts and Political Instability.
Geopolitical tensions, particularly the war in Ukraine, impact the overall cryptocurrency market. Investors often seek safe-haven assets during instability, which can lead to decreased interest in riskier assets like DOGE.
2. Regulatory Changes.
Government policies regarding cryptocurrencies can significantly affect their value. For example, stricter regulations in the US or China could negatively impact the cryptocurrency market, including DOGE.
3. Economic Sanctions.
Sanctions against countries or companies can alter the dynamics of the cryptocurrency market. For instance, sanctions against Russia have influenced the use of cryptocurrencies to bypass financial restrictions, which can have both positive and negative effects on DOGE.
4. Influence of Media Personalities.
Elon Musk continues to play a significant role in popularizing DOGE. His tweets and statements can cause significant price fluctuations in DOGE, regardless of the geopolitical situation.
5. Global Economic Trends.
The overall state of the global economy, including inflation and recession, also affects the cryptocurrency market. During economic instability, investors may prefer more stable assets.
These factors together create a complex picture for predicting the future value of DOGE. It is important to stay informed about news and analyze market trends to make well-informed investment decisions.
Today, the cryptocurrency market suffered significant losses due to several key factors:
1. Macroeconomic instability. Growing concerns about a recession in the US and weak employment data have caused investor anxiety.
2. Mass liquidations. Over the past 24 hours, the market lost more than $1 billion due to automatic position closures on many trading platforms.
3. Investor panic. Investors hurriedly sold their assets to minimize losses, further exacerbating the price decline.
These factors together have caused a significant drop in the market capitalization of cryptocurrencies and triggered panic among investors. $DOGE $TRX $XRP
The recent crypto market crash has been influenced by multiple factors:
1. Political and Regulatory Developments: A sudden imposition (and quick reversal) of martial law in South Korea caused panic among investors, leading to significant sell-offs. Meanwhile, in the U.S., changes in SEC leadership sparked mixed reactions, with some optimism but also uncertainty regarding future crypto regulations.
2. Long Liquidations: A mass liquidation event, where traders betting on price increases were forced to sell at losses, amplified downward pressure. Over $730 million in long positions were liquidated in a single day, impacting $Bitcoin and other crypto currencies significantly.
$BTC $ETH $BNB
3. Global Economic Concerns: Broader fears of a global recession, high interest rates, and a strong U.S. dollar have increased volatility across financial markets, including crypto. Weak job reports and hesitance by central banks to ease monetary policies have further dampened risk sentiment.
4. Market Correction: After a recent rally that pushed crypto market caps to new highs, some analysts view this as a natural correction. Price levels often see volatility near significant milestones, as happened with Bitcoin's recent rise and sudden drop.
Conclusion: 🔥🚀
These combined factors have created a challenging environment for crypto investors, leading to heightened caution and market fluctuations.
don't worry $DOGE $TRX $BNB it's the necessary correction 🙃 time to investing and be ready to the moon🚀
LIVE
Coinpedia
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Crypto Correction Today: Will These Key Economic Events Crash the Market or Fuel This Week?
The post Crypto Correction Today: Will These Key Economic Events Crash the Market or Fuel This Week? appeared first on Coinpedia Fintech News
Next Week’s key economic events include inflation, oil, and labour market data. All of these are sensitive, and we can expect them to influence the cryptocurrency market immensely. Let’s try to understand the US economic scenario better.
Overview of Next Week’s Key Economic Events
Inflation Data
The NY Fed will release the Consumer Inflation Expectations data for November today, December 9, 2024. The October figure stood at 2.9%, which is the lowest reported since October 2020, after holding at 3% for over four months consistently. For November, Trading Economics predicts that the index will return to 3.0%
The US Consumer Price Index for November will be released on Wednesday, December 11. The CPI for October rose to 315.644 from 315.3 in September. November’s forecast is unchanged at 315.3 points.
The US Producer Prices Index for November is scheduled to be released a day after the US CPI’s release (on December 12). The index climbed to 145.615 points in October, its highest ever, up from 145.329 in September. For November, experts forecast a further increase to 146 points.
Higher CPI and PPI figures could signal persistent inflation, leading to potential Federal Reserve rate hikes. Tighter monetary policies reduce liquidity, often negatively affecting cryptos.
Oil Market Trends
The OPEC monthly oil market report will be released on December 11, Wednesday. It will offer insights into global oil market trends. Understanding oil trends is important as oil prices often affect global energy costs and investor sentiment.
A bullish oil market from OPEC’s report may lead to higher energy costs, impacting cryptos mining operations.
Jobless Claims and Labour Market Trends
The Initial Jobless data for the first week of December will be released on December 12, Thursday. The index rose to 224,000 on November 30, up from 213,000 on November 23. For December 7, the consensus is 221,000, with a TE forecast of 225,000.
Rising jobless claims can indicate economic distress, potentially driving more investors to cryptocurrencies.
Import/Export Prices
The Import and Export data for November will be released on December 13, Friday. The export index in October saw a 0.8% increase, surpassing markets expecting a 0.1% decline. For November, forecasts range from -0.3% to +0.9%. The import index in October rebounded by 0.3% after a 0.4% decline in September. November predictions range from -0.3% to +0.2%.
Strong export price growth indicates a robust economy, possibly reducing crypto’s appeal. Conversely, higher import prices could drive inflation fears, increasing demand for cryptocurrencies.
In conclusion, Next week’s economic data will likely play a pivotal role in shaping the crypto market’s direction.
love it $DOGE waiting for the rocket 🚀 i'm told you that is the beginning of amazing trip😊 stay tuned 😘
LIVE
ShaninFx
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Dogecoin (DOGE) Breakout Alert 🚀
DOGE is showing strong bullish momentum! After consolidating for weeks, it has broken out of an ascending triangle pattern, with experts eyeing a potential 30% rally to $0.57 if it closes above $0.45.
Key Highlights:
RSI: At 65, leaving room for further gains.
Whale Activity: Large transactions surged 42%, with $103M DOGE outflows, signaling confidence.
Dogecoin Co-Creator Billy Markus Reflects on Crypto and Celebrates Milestone
Billy Markus, co-creator of Dogecoin (DOGE), recently shared his evolving perspective on cryptocurrency. Known as “Shibetoshi Nakamoto” on social media, Markus admitted in a recent post that he has started to “appreciate cryptocurrency so much more recently.” While acknowledging that recent price surges play a role, he emphasized his trust in code over people, citing …
Continue reading "Dogecoin Co-Creator Billy Markus Reflects on Crypto and Celebrates Milestone"
The post Dogecoin Co-Creator Billy Markus Reflects on Crypto and Celebrates Milestone appeared first on Cryptoknowmics-Crypto News and Media Platform.
Dogecoin (DOGE) is holding strong at $0.44, forming an ascending triangle pattern with resistance at this key level. Buyers are stepping up, keeping the price on an upward trend. 📈
🔑 Highlights: • Support rising from $0.34; resistance at $0.44. 🛡️ • Trading volume is climbing, showing more interest. 📊 • Potential breakout targets: $0.54 - $0.64. 🎯 • Elon Musk’s recent Congress appearance could add momentum. 🤔✨
DOGE is in a consolidation phase, but all eyes are on whether it breaks resistance! 🚀 Will it hit new highs? 👀