DOGE Price Falls by 5% as Demand Declines

While the values of WIF and PEPE register minor gains, DOGE ’s price has fallen by 5% in the last 24 hours.price fell by almost 5% in the last 24 hours at press time, while the prices of other leading meme assets have registered minor gains.At press time, DOGE traded at $0.19. The coin’s trading volume has declined by 10% in the past 24 hours.showed that the price fall was caused by a drop in demand for the altcoin during the period under review.

According to Santiment, DOGE’s social dominance and social volume have dropped by 33% and 78% in the past two days.During the same period, the coin’s futures open interest has decreased by 4%. As of this writing, this was $1.64 billion. As the meme market hype declined, DOGE’s futures open interest initiated a decline and trended downward since the beginning of April. Between the 1st and 9th of April, the memecoin’s futures interest has fallen by 26%.

When an asset’s open interest declines this way, it signals a decline in market activity. It suggests that futures market participants are exiting their positions without opening new ones.Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.

DOGE Price Fall Decline Demand Meme Assets Trading Volume Altcoin Transactions Santiment Social Dominance Social Volume

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