Dogecoin Continues To Crash: Are We Seeing End Stages Of Bear Market?

Dogecoin DOGE/USD traded 6.3% lower at $0.11 over 24 hours leading up to early Tuesday morning. 

DOGE fell in tandem with other major coins as the global cryptocurrency market cap fell 5.3% to $1.45 trillion at press time.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -6.3%
24-hour against Bitcoin 1.35%
24-hour against Ethereum 4.12%
7-day -13.5%
30-day -23.6%

YTD performance


See Also: How To Get Free Crypto

The DOGE Factors

  • DOGE was not among the most trending coins on Twitter at press time, according to Cointrendz data.
  • The 24-hour Dogecoin trading volume shot up 201.1% to $2.03 billion, according to CoinMarketCap data.
  • Dogecoin was seen trending on CoinMarketCap at press time.
  • Coinglass data indicated that $13.69 million worth of DOGE futures were liquidated in the preceding 24 hours as the meme coin fell.

End Stages Of Downwards Run?

Cryptocurrency trader Michaël van de Poppe said Monday that he’s convinced that “we’re getting into the end stages of this downwards run.” The trader said that capitulation may already have taken place pointing to the fact that altcoins are in a bear market for a year.

More Tax For Indian Shibes

The Indian government is considering imposing a 28% Goods and Services Tax (GST) on digital assets like Dogecoin after levying a 30% income tax on profits earned from cryptocurrency trading.

Dogecoin Millionaire Buys The Dip

Dogecoin millionaire Glauber Contessoto said he purchased $10,000 worth of DOGE at 10 cents on Twitter. 

DOGE On The Web

Dogecoin co-creator Billy Markus touched on TerraUSD (UST) losing its peg to the dollar on Monday in a tweet.

Markus said, “DeFi is like hackathon code in production with billions of dollars and billions of buzzwords being thrown around by the bros.”

Read Next: Whaattt…Do Spies Really Use Dogecoin In This World?

Source link

Leave a Reply

Your email address will not be published.