Dogecoin Price Sinks 7%: What’s Happening

Dogecoin (CRYPTO: DOGE) was bleeding Sunday midnight, following a tepid debut of the memecoin’s first-ever exchange-traded fund in the U.S.

Dogecoin Becomes Biggest Large-Cap Loser

DOGE fell more than 7% in the last 24 hours, becoming the biggest 24-hour loser among the top ten cryptocurrencies by market capitalization.

The coin’s trading volume lifted 83%, indicating high selling pressure and trader interest.

Interestingly, DOGE’s derivatives market was still betting on its rally, with nearly 80% of the traders long as of this writing, according to Coinglass.

See Also: Bitcoin, Ethereum, Dogecoin, XRP Dive As Crypto Enters ‘Fear’ Zone: Analyst …

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