In recent weeks there was clearly the unique performance of the Altcoins, which after a long time set up new local peaks and clearly perform better than Bitcoin. However, there are a few projects that struggle despite the trend, such as the favorite cryptocurrency by Elon Musk, Dogecoin.
DOGE fell nearly 14%last week after investors have spent nearly five billion pieces on the market. This turnover of more than $ 1 billion refers to massive profit travel, which can easily be made by Musk-Trump debate from Memoin dealers.
That is why Doge pours on stock fairs
When writing our article, Dogecoin
Doge -price
(Doge) has a price of $ 0.228 afterwards In the past seven days it fell 13.85% His exchange rate. Of the high -capitalized projects only Cardano
Cardano -Price
(Ada) and XRP
XRP -price
(XRP) Last week a decrease of approximately 10%, the rest of the projects stagnated or even minimally.
Stock flows increased the sales pressure from Dogecoin to high -year -olds.
In the last few days, around 5 billion dogecoin has been brought to the crypto stock exchanges and such a movement has not been the case for three years. According to the analysis of Glassnode, this is due to massive profit realization: the point “Realized profit/loss ratio” jumped to the never -seen value of 15.78.
Dogecoin’s profit -realization percentage increased and the price movement became hectic.
“This means that every loss of $ 1 $ 15.78 wins for $ 1 – they dream of this win in most markets,” the analysts quotes.
This profit maximization parallel to the exchange rate was still changed by the fact that institutional actors started to reduce their positions after the rally – for technical reasons and risk management.
Significant liquidity has taken place in the derivative markets, with a position of $ 53 million in one day, 85%of which was provided by long or prices. Moreover, the number of daily active titles has fallen considerably (decreased from 70,000 to hundreds of thousands), indicating that despite speculation fever, the real network activity is not on peak.
Prospects for the future
“Dogecoin has survived the strongest times of the cryptop market and even drives the waves of public opinion, but is now a serious test” – says a well -known analyst. Although Doge has suffered a significant correction of the historical peak, the level of $ 0.23 retains; If this falls, the following support can be around $ 0.17.
The support level of $ 0.23 is important: technical analysis of Dogecoin.
The market sentiment is specifically two -bank: Although many are afraid of falling, technical analysts say in an unexpected change, when the customer pressure increases, the level of $ 0.28 can be released. “Dogecoin is always able to surprise – Dog Meme is just as unpredictable as the crypto world itself,” The analysts say.
Mememcoin rule can end
The current turbulent period of Dogecoin is an example of the whims of cryptocurrency. The avalanche of the world -profit maximization and the sale of stock market sales: memcoins are not sufficient because of a joke, and behind them are just as serious psychological and financial processes as in any other financial market.
The key to the coming weeks, whether Doge and his “fan base” can consolidate the exchange rate or another roller coaster. What is certain is that the dog will always come back – you just never know what joke you have in the cryptoarena next time.
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