The cryptocurrency market recently took a hit as bears pushed prices down, leading to a 5.89% drop in the overall market cap. Bitcoin, the top cryptocurrency, saw a sudden fall to $66,000, while Ethereum briefly dropped to $3,319.
Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol
During this time, the entire network saw a total liquidation of $157 million, with $144 million coming from long orders. Even meme coins, known for their wild price swings, weren’t spared. The market cap of meme coins dropped significantly by 10.8%, despite a notable 42% increase in trading volume. Some meme coins experienced double-digit declines during this period.
Cryptocurrency Price Analysis Amid Market Downturn
Dogecoin (DOGE): Dogecoin experienced a 14% decrease in the last 24 hours, with its current trading price at $0.1866. Despite the drop, trading volume surged by 66%. It hit a seven-day low of $0.1850 and fluctuated between $0.187 to $0.2172 today. Over the past month, Dogecoin surged by 33%. The 9-day Exponential Moving Average (EMA) stands at $0.19537, while the daily Relative Strength Index (RSI) indicates a neutral condition at 54. Analysts suggest a potential rise to $0.228 if bullish momentum continues, while a bearish scenario might lead to a drop to $0.175.
DOGE Price Chart, Source: TradingView
Pepe: Pepe experienced a 14% decline in the last 24 hours, currently trading at $0.000007217. Despite the downturn, trading volume increased by 7%. It hit a two-week low of $0.00000703, with trading ranging between $0.000007163 to $0.00000828 today. Over the past month, Pepe surged by 77%. The 9-day EMA is at $0.00000787, and the daily RSI indicates a neutral condition at 49. Analysts suggest a potential rise to $0.00000923 if bullish momentum persists, while a bearish scenario might lead to a drop to $0.00000660.
Also Read: Dogecoin Price Surges 20%: Key Factors Behind Recent Jump
PEPE Price Chart, Source: TradingView
Chika Moji New Memecoin Claim Instant 100,000 Chika Tokens $100 Free, Claim Airdrop Now On ChikaMoji.lol
Dogwifhat: Dogwifhat witnessed an 11% decline in the past 24 hours, currently trading at $3.8, with a 4% increase in trading volume. It hit a five-day low of $3.8, fluctuating between $3.81 to $4.48 today. Over the past month, it surged by 229%. The 9-day EMA is $3.93, and the daily RSI is at 56, showing a neutral condition. Analysts suggest a potential rise to $4.81 if bullish momentum continues, while a bearish scenario might lead to a drop to $3.0.
WIF Price Chart, Source: TradingView
The downturn in the crypto market has sparked concerns among investors, prompting close monitoring of the situation for potential shifts in market sentiment and price movements.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Crypto Intelligence News
Optimisus
Optimisus
Crypto Intelligence
CoinPedia News
DogeHome
Coincu
crypto.news
DogeHome
