Is Dogecoin’s Recent Fall Indicative of a Market Decoupling?
Dogecoin has been moving in the opposite direction of the overall crypto market trend. While other altcoins like Ethereum and XRP have made gains, Dogecoin has struggled to keep up. It has maintained a constrained trend and fallen over 3% while Bitcoin saw recoveries. Dogecoin’s deviation from the market recovery is not surprising, considering it had earlier rallied due to speculation of integration into Twitter as a payment method. Despite not following the market uptrend, Dogecoin remains the 7th-largest cryptocurrency with a market cap of $11.1 billion. However, its daily Trading volume has declined, suggesting investors may be moving away from the asset.
parofix.com
Dogecoin has been moving in the opposite direction of the overall crypto market trend. While other altcoins like Ethereum and XRP have made gains, Dogecoin has struggled to keep up. It has maintained a constrained trend and fallen over 3% while Bitcoin saw recoveries. Dogecoin’s deviation from the market recovery is not surprising, considering it had earlier rallied due to speculation of integration into Twitter as a payment method. Despite not following the market uptrend, Dogecoin remains the 7th-largest cryptocurrency with a market cap of $11.1 billion. However, its daily Trading volume has declined, suggesting investors may be moving away from the asset.
parofix.com
