{"id":544684,"date":"2023-07-27T23:00:29","date_gmt":"2023-07-27T23:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=544684"},"modified":"2023-07-27T14:43:57","modified_gmt":"2023-07-27T14:43:57","slug":"dogecoin-falls-while-others-rally-is-it-decoupling-from-the-market","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/dogecoin-falls-while-others-rally-is-it-decoupling-from-the-market\/","title":{"rendered":"Dogecoin Falls While Others Rally, Is It Decoupling From The Market?"},"content":{"rendered":"

Over the last day, the majority of the crypto market has been rallying alongside Bitcoin. But Dogecoin seems to have a mind of its own as it has gone in the opposite direction. The meme coin started out Thursday with a decline, which follows the trend of DOGE deviating from the general crypto market trend over the past week.<\/p>\n

Dogecoin Fails To Register Similar Gains To Larger Altcoins<\/h2>\n

Dogecoin has struggled to keep up with the gains of top altcoins such as Ethereum and XRP. In this time, the meme coin has maintained a rather constrained trend, falling over 3% in the early hours of Thursday while the likes of Bitcoin saw recoveries.<\/p>\n

Related Reading: Bitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023<\/a><\/div>\n

This is not the first that DOGE has gone in the opposite direction in as many days. Earlier in the week, the price of Bitcoin fell below $30,000, taking the broader market down with it. However, DOGE remained resilient in the face of this bear trend<\/a> as billionaire Elon Musk reiterated his support for the digital asset once more.<\/p>\n

With the change of Twitter to X, Musk had changed his location to X but added the infamous DOGE symbol as well<\/a>. This move sparked speculation of Dogecoin being integrated into the social media platform as a payment method and the price rallied as a result of this.<\/p>\n

Thus, while digital assets across the space saw their prices falling, Dogecoin was rising as high as double-digit daily gains. So the meme coin\u2019s deviation during the market recovery comes as no surprise given the expected cool-off from its earlier rally.<\/p>\n

\"Dogecoin<\/p>\n

DOGE price struggles to break $0.08 resistance | Source: DOGEUSD on Tradingview.com<\/a><\/pre>\n
DOGE Becomes 7th-Largest Cryptocurrency<\/h2>\n
Despite Dogecoin not following the market uptrend, the meme coin continues to maintain its standing in the market. DOGE is currently the 7th-largest cryptocurrency with a market cap of $11.1 billion. This puts it ahead of Cardano, which lost its spot to the meme coin following\u2019s DOGE\u2019s multiple rallies this week.<\/p>\n
However, DOGE is currently seeing a significant slowdown in its momentum with a rapid decline in daily trading volume. According to Coinmarketcap<\/a>, the daily trading volume of Dogecoin is down more than 45% in the last day to rest at $678 million at this time.<\/p>\n
Related Reading: Crypto Analyst Says It\u2019s Time To Buy Dogecoin, Here\u2019s Why<\/a><\/div>\n
This nosedive in trading volume indicates that investors may already be moving away from the asset as they believe the rally might already be over. Given this, the meme coin may have a hard time mounting a recovery at this level. Nonetheless, the slowdown in momentum would not matter if Musk mentions the coin<\/a> in the coming days as it would rally nonetheless.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Over the last day, the majority of the crypto market has been rallying alongside Bitcoin. But Dogecoin seems to have a mind of its own as it has gone in the opposite direction. The meme coin started out Thursday with a decline, which follows the trend of DOGE deviating from the general crypto market trend over the past week. Dogecoin Fails To Register Similar Gains To Larger Altcoins Dogecoin has struggled to keep up with the gains of top altcoins such as Ethereum and XRP. In this time, the meme coin has maintained a rather constrained trend, falling over 3% in the early hours of Thursday while the likes of Bitcoin saw recoveries. Related Reading: Bitcoin Pre-Halving Patterns Suggest Bull Market Is Not Starting In 2023 This is not the first that DOGE has gone in the opposite direction in as many days. Earlier in the week, the price of Bitcoin fell below $30,000, taking the broader market down with it. However, DOGE remained resilient in the face of this bear trend as billionaire Elon Musk reiterated his support for the digital asset once more. With the change of Twitter to X, Musk had changed his location to X but added the infamous DOGE symbol as well. This move sparked speculation of Dogecoin being integrated into the social media platform as a payment method and the price rallied as a result of this. Thus, while digital assets across the space saw their prices falling, Dogecoin was rising as high as double-digit daily gains. So the meme coin\u2019s deviation during the market recovery comes as no surprise given the expected cool-off from its earlier rally. DOGE price struggles to break $0.08 resistance | Source: DOGEUSD on Tradingview.com DOGE Becomes 7th-Largest Cryptocurrency Despite Dogecoin not following the market uptrend, the meme coin continues to maintain its standing in the market. DOGE is currently the 7th-largest cryptocurrency with a market cap of $11.1 billion. This puts it ahead of Cardano, which lost its spot to the meme coin following\u2019s DOGE\u2019s multiple rallies this week. However, DOGE is currently seeing a significant slowdown in its momentum with a rapid decline in daily trading volume. According to Coinmarketcap, the daily trading volume of Dogecoin is down more than 45% in the last day to rest at $678 million at this time. Related Reading: Crypto Analyst Says It\u2019s Time To Buy Dogecoin, Here\u2019s Why This nosedive in trading volume indicates that investors may already be moving away from the asset as they believe the rally might already be over. Given this, the meme coin may have a hard time mounting a recovery at this level. Nonetheless, the slowdown in momentum would not matter if Musk mentions the coin in the coming days as it would rally nonetheless. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":544700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,85675,7,87539,79599,79600],"class_list":["post-544684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-price","tag-dogecoin","tag-dogecoin-performance","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\nDogecoin Falls While Others Rally, Is It Decoupling From The Market?<\/title>\n<meta name=\"description\" content=\"Over the last day, the majority of the crypto market has been rallying alongside Bitcoin. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Dogecoin Falls While Others Rally, Is It Decoupling From The Market?","url":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-falls-while-others-rally-is-it-decoupling-from-the-market\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin\/dogecoin-falls-while-others-rally-is-it-decoupling-from-the-market\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1351825546-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/iStock-1351825546-1.jpg?fit=2121%2C1414"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","doge price","dogecoin","dogecoin performance","dogeusd","dogeusdt"],"dateCreated":"2023-07-27T23:00:29Z","datePublished":"2023-07-27T23:00:29Z","dateModified":"2023-07-27T23:00:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Dogecoin Falls While Others Rally, Is It Decoupling From The Market?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-falls-while-others-rally-is-it-decoupling-from-the-market\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/dogecoin-falls-while-others-rally-is-it-decoupling-from-the-market\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1351825546-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1351825546-1.jpg?fit=2121%2C1414\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"doge price\",\"dogecoin\",\"dogecoin performance\",\"dogeusd\",\"dogeusdt\"],\"dateCreated\":\"2023-07-27T23:00:29Z\",\"datePublished\":\"2023-07-27T23:00:29Z\",\"dateModified\":\"2023-07-27T23:00:29Z\"}<\/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\/2023\/07\/iStock-1351825546-1.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544684","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\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=544684"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/544700"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=544684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=544684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=544684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}