On Saturday, June 7, Dogecoin (DOGE) witnessed a 56 % decrease in trading volume, according to data from CoinMarketcap. Historically, this sharp decline in size often indicates the possibility of poor prices, although Doge showed mixed signals in the short term.
At the time of writing this report, Dogecoin is traded at approximately $ 0.1869, reflecting an increase of 4.89 % over the past 24 hours.
The market value is currently 27.96 billion dollars, with trading volume increased 24 hours to 922.18 million dollars-an increase of 56.46 % over the previous day.
The fully diluted evaluation (FDV) of Dogecoin (FDV) matches the maximum market, and the maximum market size 3.33 %. The total offer of DOGE is still fixed at 149.58 billion icons.
On Friday, Doge PRICE turned into a declining, corresponding to the sale of the wider encryption market. Investors’ reaction to mixed macroeconomic indicators was, which prompted a wave of profit and the opposite of the upscale momentum that prompted the markets up in previous weeks.
The repercussions of musk
Dogecoin price movements have been linked to Elon Musk activity and public data. After his resignation from the Ministry of Governmental efficiency (DOGE), it seems that the performance of Mimi’s currency has become less interactive with his effect – although it is not completely separated.
The recent tensions between Musk and the American President raised the turmoil in the wider markets. Tesla shares decreased sharply on Thursday, erasing $ 152 billion in the market value-which is the largest loss for one day in the company’s public history of 15 years.
You may also like
This event sent shock waves through the assets followed by musk, including Dogecoin, which often benefits from its approvals or suffer from during the differences.
With the continuing indicators of mixed signal signals and uncertainty in the macro, merchants closely monitor to determine whether this bounce in the price and size is the beginning of renewable momentum or just a short -lived reaction.
