Derived from NewsBTC, Dogecoin's trading volume has surged over 57% in the last 24 hours, reaching $6.5 billion. This increase coincides with a significant price drop of over 5%, influenced by Jerome Powell's speech suggesting a pause on rate cuts, which sparked bearish sentiment. Liquidations have also risen, with $31 million in positions affected, primarily long positions. Crypto analyst Kevin Capital suggests the market is overreacting and expects a recovery, while Master Kenobi advises holding positions despite volatility. The correlation with Bitcoin, which is also experiencing a downturn, may impact Dogecoin's recovery.
Dogecoin Trading Volume Surges to $6.5B Amid $31M Liquidations
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.