{"id":665868,"date":"2024-12-20T23:00:19","date_gmt":"2024-12-20T23:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=665868"},"modified":"2024-12-20T13:19:27","modified_gmt":"2024-12-20T13:19:27","slug":"dogecoin-dives-29-million-disappears-during-market-collapse-data","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin-dives-29-million-disappears-during-market-collapse-data\/","title":{"rendered":"Dogecoin Dives: $29 Million Disappears During Market Collapse \u2014Data"},"content":{"rendered":"

The market for Dogecoin (DOGE) is contracting: the memecoin shed more than 25% of its value during the last three days. The broader market is still bearing the brunt of Bitcoin’s crash,<\/a> worrying both investors and speculators.<\/p>\n

Related Reading: SUI The Rising Star: Analyst Foresees Over $25 Breakthrough<\/a><\/div>\n

Market Overview: A Sudden Change<\/h2>\n

The recent drop in the value of crypto assets has caused around $787 million to be lost through liquidations of different types of digital assets. Dogecoin<\/a>, which is often considered as a joke, has been among the hardest hit.<\/p>\n

Approximately $29 million in DOGE liquidations were recorded recently, with bullish positions suffering the most losses, according to CoinGlass data<\/a>. In a mere 24 hours, the price of Dogecoin plummeted to a low of $0.34 before ultimately stabilizing at approximately $0.365, a 6.05% decline.<\/p>\n

Macroeconomic issues influencing more general market movements can help to explain this fall. The Federal Reserve’s concern about interest rate cuts has aggravated bearish attitude. For example, Ethereum and Dogecoin followed suit after Bitcoin’s value dropped to the $94k level.<\/span> <\/span><\/p>\n

\"\"
Source: Coinglass<\/a><\/figcaption><\/figure>\n

A Closer Examination Of Liquidation Issues<\/h2>\n

Approximately $24 million in bullish wagers on Dogecoin were liquidated in the past 24 hours, while $5.93 million in losses were attributed to short positions. The market’s present extreme volatility is underscored by this wave of liquidations.<\/p>\n

Dogecoin is currently approaching critical support levels, as noted by analysts. Some analysts have speculated that it could fall below $0.20 if adverse momentum persists.<\/p>\n

\"\"
DOGE market cap currently at $42 billion. Chart: TradingView.com <\/a><\/figcaption><\/figure>\n

Key support levels for DOGE are being closely monitored by market analysts. The Relative Strength Index (RSI) suggests that Dogecoin may be oversold, which could indicate a potential rebound if traders are able to effectively defend the critical price zones.<\/p>\n

\"\"
DOGE price down in the last 24 hours. Source: Coingecko<\/a><\/figcaption><\/figure>\n
Related Reading: Solana Poised For Growth In 2025 With Record $173 Million Q3 Funding\u2014Report<\/a><\/div>\n

The Road Ahead For Dogecoin<\/h3>\n

Despite the present challenges, market watchers’ future expectations of Dogecoin remain high. Some analysts believe that DOGE’s capacity to maintain a weekly closing above $0.26 will help to create a recovery rally toward higher goals. Still, the reality of continuous market pressures and unpredictability helps to temper this hope.<\/p>\n

As they negotiate this stormy terrain, many traders are left wondering how low Dogecoin might fall before it finds solid ground.<\/span> Given the expected significant price swings in the next days and weeks, all eyes will be on this famous meme coin as it tries to recuperate in the face of a difficult crypto climate.
\n<\/span><\/p>\n

Featured image from DALL-E, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The market for Dogecoin (DOGE) is contracting: the memecoin shed more than 25% of its value during the last three days. The broader market is still bearing the brunt of Bitcoin’s crash, worrying both investors and speculators. Related Reading: SUI The Rising Star: Analyst Foresees Over $25 Breakthrough Market Overview: A Sudden Change The recent drop in the value of crypto assets has caused around $787 million to be lost through liquidations of different types of digital assets. Dogecoin, which is often considered as a joke, has been among the hardest hit. Approximately $29 million in DOGE liquidations were recorded recently, with bullish positions suffering the most losses, according to CoinGlass data. In a mere 24 hours, the price of Dogecoin plummeted to a low of $0.34 before ultimately stabilizing at approximately $0.365, a 6.05% decline. Macroeconomic issues influencing more general market movements can help to explain this fall. The Federal Reserve’s concern about interest rate cuts has aggravated bearish attitude. For example, Ethereum and Dogecoin followed suit after Bitcoin’s value dropped to the $94k level. A Closer Examination Of Liquidation Issues Approximately $24 million in bullish wagers on Dogecoin were liquidated in the past 24 hours, while $5.93 million in losses were attributed to short positions. The market’s present extreme volatility is underscored by this wave of liquidations. Dogecoin is currently approaching critical support levels, as noted by analysts. Some analysts have speculated that it could fall below $0.20 if adverse momentum persists. Key support levels for DOGE are being closely monitored by market analysts. The Relative Strength Index (RSI) suggests that Dogecoin may be oversold, which could indicate a potential rebound if traders are able to effectively defend the critical price zones. Related Reading: Solana Poised For Growth In 2025 With Record $173 Million Q3 Funding\u2014Report The Road Ahead For Dogecoin Despite the present challenges, market watchers’ future expectations of Dogecoin remain high. Some analysts believe that DOGE’s capacity to maintain a weekly closing above $0.26 will help to create a recovery rally toward higher goals. Still, the reality of continuous market pressures and unpredictability helps to temper this hope. As they negotiate this stormy terrain, many traders are left wondering how low Dogecoin might fall before it finds solid ground. Given the expected significant price swings in the next days and weeks, all eyes will be on this famous meme coin as it tries to recuperate in the face of a difficult crypto climate. Featured image from DALL-E, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":665901,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,428,6664,1785,7,88164],"class_list":["post-665868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-bitcoin","tag-crypto","tag-doge","tag-dogecoin","tag-memecoins"],"acf":[],"yoast_head":"\nDogecoin Dives: $29 Million Disappears During Market Collapse<\/title>\n<meta name=\"description\" content=\"The market for Dogecoin (DOGE) is contracting: the memecoin shed more than 25% of its value during the last three days. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Dives: $29 Million Disappears During Market Collapse \u2014Data","url":"http:\/\/wncen.com\/news\/dogecoin-dives-29-million-disappears-during-market-collapse-data\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin-dives-29-million-disappears-during-market-collapse-data\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/12\/a_3e62ff.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/12\/a_3e62ff.png?fit=818%2C723"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","bitcoin","crypto","doge","dogecoin","memecoins"],"dateCreated":"2024-12-20T23:00:19Z","datePublished":"2024-12-20T23:00:19Z","dateModified":"2024-12-20T23:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Dives: $29 Million Disappears During Market Collapse \\u2014Data\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-dives-29-million-disappears-during-market-collapse-data\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin-dives-29-million-disappears-during-market-collapse-data\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/a_3e62ff.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/12\\\/a_3e62ff.png?fit=818%2C723\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"bitcoin\",\"crypto\",\"doge\",\"dogecoin\",\"memecoins\"],\"dateCreated\":\"2024-12-20T23:00:19Z\",\"datePublished\":\"2024-12-20T23:00:19Z\",\"dateModified\":\"2024-12-20T23:00:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/12\/a_3e62ff.png?fit=818%2C723","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/665868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=665868"}],"version-history":[{"count":7,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/665868\/revisions"}],"predecessor-version":[{"id":665951,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/665868\/revisions\/665951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/665901"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=665868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=665868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=665868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}