Because of Wednesday's flash meltdown, which shook the cryptocurrency market, Dogecoin has struggled to recover. The price of DOGE has fallen from its $0.09 high and is now trading at a low of $0.08 while this article is being written. Curiously, this is occurring just as the volume of the meme currency is seeing a notable upswing; what gives?
Volume of Dogecoin Surges Above 200%
Following a precipitous decline in price, Dogecoin's daily trading volume saw a rise comparable to the most recent ones. In the end, the daily trading volume of DOGE increased by more than 190% due to the rising interest in the currency.
As a result of this increase, the trading volume for the day surpassed $1.12 billion, as reported by CoinMarketCap. This is excellent news for the asset, since it amounts to almost 9% of the trading volume to market cap ratio.
Still, DOGE has failed to see any gains despite the uptick in interest. The price is remains below $0.082 as of this writing. Its price has dropped by almost 10% in the same time period, and it has also lost all of its weekly gains.

Why Is the Price of DOGE Challenging?
The DOGE price seems to be staying put due to increased sell pressure on the asset, particularly from institutional investors. The "whales" among Dogecoin holders seem to be liquidating their assets.
Sending coins to exchanges is often a sign that the holder is planning to sell their coins, which may be bad for the price of a cryptocurrency. Because of this, it's possible to exert significant selling pressure on the price, similar to what happened with Dogecoin.
In the last 24 hours, there have been a number of significant Dogecoin transactions destined for exchanges. A flagged transaction destined for the Robinhood trading platform was 82 million DOGE, valued at $6.74 million. Another massive transaction was detected an hour later by Whale Alert; this one also carried 102.27 million DOGE, with a value of $8.4 million, to Robinhood. The DOGE price's persistence in the face of market recovery may be explained if all of these transactions were executed with the aim of selling.
Nevertheless, not all shifts have been pessimistic, particularly from these substantial investors. Over 151.68 million DOGE, or $12.49 million, was transferred from Robinhood to an undisclosed wallet in one transaction that was recorded by the whale tracker. The fact that the owner may be transferring the coins to a personal wallet in the hopes of waiting for a higher price makes this transaction more positive.
#dogecoin #doge #crypto2024 #cryptocrurrency $DOGE

市场分析市值：1.66万亿美元24 小时交易量：797.9 亿美元BTC 主导地位：51.5%ETH 占比：16.3%________________________________________________________如果您是加密专家，请给我一个加密信号。_______________________________________涨幅最大的股票1：人工智能2：哦3：NTRN__________________________________________最大输家1：MDX2：暴民3：考虑__________________________________________大家告诉我，您认为比特币能否突破 50,000 美元。______________________________________________

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