Dogecoin Trading Volume Rises Over $6.5 Billion As Liquidations Cross $31 Million, What’s Going On?

Quick Summary:

The surge in these metrics has resulted from the significant price drop for Dogecoin, which is down over 5% in the last 24 hours.  Dogecoin Trading Volume And Liquidations Witness Significant Spike CoinMarketCap data shows that Dogecoins’s trading volume is up over 57% in the last 24 hours, with over $6 billion traded during this period.

This contributed to the spike in trading volume, as investors looked to offload their coins, considering how the Fed being hawkish is bearish for risk assets like Dogecoin.  However, Kevin Capital believes that traders are overreacting to Jerome Powell’s speech.

As such, the Dogecoin price recovery is unlikely to happen until Bitcoin witnesses a bullish reversal.  Increased Volatility Is Not Unusual Crypto analyst Master Kenobi also commented on the Dogecoin price drop, stating that increased volatility at this stage of the bull market is not unusual.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: United Kingdom

Topics: Analyst Dogeusd DOGE news Crypto analyst Dogecoin news Crypto Dogecoin Doge Crypto news Doge price Dogecoin price Dogeusdt

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-20 @ 02:30:23 (22 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 463 words

Reading Time: 3 minutes read

Sentences: 67 lines

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Copyright Owner: © NewsBTC

News ID: 24565064

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