Dogecoin

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Bitcoin

Momentum

<p><a href="https://coinpedia.org/price-analysis/why-crypto-market-is-down-today-bitcoin-below-95000/" target="_blank" rel="noreferrer noopener">Bitcoin’s recent 11.25% drop</a> has shaken the entire crypto market, causing significant declines across the board. Dogecoin, the original memecoin, suffered one of the steepest falls, plunging 32% over the past three days. As of today, Dogecoin is down 20.7% in the last 24 hours alone, creating opportunities for short sellers and long-term investors alike. </p>   
<p>Let’s examine what’s driving these moves and what could come next.</p>   
<h2 class="wp-block-heading" id="h-doge-metrics">DOGE Metrics</h2>   
<p>According to data from DeFiLlama, Dogecoin’s total value locked (TVL) has dropped sharply by 32.65% in the past three days. On December 17, the TVL was $8.82 million, but it has since fallen to $5.94 million.</p>   
<p>Open interest (OI) in Dogecoin has also decreased significantly. On December 9, OI stood at $4.34 billion when DOGE was priced at $0.45. Now, with the price below $0.30, OI has halved to $2.26 billion, signaling reduced activity and confidence among traders.</p>   
<figure class="wp-block-image aligncenter size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/12/20185550/dogecoin-price-chart-1024x544.webp" alt="dogecoin-price-chart" class="wp-image-395700">
 <figcaption class="wp-element-caption">
  <em>Source : Tradingview</em>
 </figcaption>
</figure>   
<p><strong>A Look at the Technicals </strong></p>   
<p>Dogecoin is currently trading at $0.28, with its nearest support level at $0.27, backed by the 100-day moving average (MA). It has slipped below the 20-day and 50-day MAs, while the 200-day MA sits lower at $0.17.</p>   
<p>The Relative Strength Index (RSI) is at 30.15, indicating that DOGE is in oversold territory. This could attract whales and large investors looking to buy at discounted prices.</p>   
<h2 class="wp-block-heading" id="h-whale-activity-in-focus">Whale Activity In Focus </h2>   
<p>Coinglass data reveals that Dogecoin remains in a risky zone despite recent attempts at recovery. Whale orders and large trades dominate, with many traders holding substantial short positions.</p>   
<figure class="wp-block-image aligncenter size-full">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/12/20185545/dogecoin-whale-orders.webp" alt="dogecoin-whale-orders" class="wp-image-395699">
 <figcaption class="wp-element-caption">
  <em>Source : Coinglass</em>
 </figcaption>
</figure>   
<p>At the current price, a majority of short trades have been fulfilled. This creates the potential for an upward price spike, possibly targeting high-leverage traders. Such sudden moves are common in volatile markets, so traders should approach with caution and implement strong risk management strategies.</p>   [post_titles_links postid="395682"]   
<h2 class="wp-block-heading" id="h-what-traders-should-watch">What Traders Should Watch </h2>   
<p>Dogecoin often mirrors Bitcoin’s price movements, and this trend continues. As Bitcoin attempts to stabilize and recover, Dogecoin may follow. However, the possibility of further declines remains.</p>   
<p>New buying pressure could help push Dogecoin’s price higher, but the overall market remains uncertain. The ripple effect from Bitcoin’s decline is one of the primary reasons behind <a href="https://coinpedia.org/price-analysis/why-crypto-market-is-down-today-bitcoin-below-95000/" target="_blank" rel="noreferrer noopener">Dogecoin’s sharp drop.</a></p>   
<p>During volatile periods like these, leverage trading is especially risky. Traders are advised to be cautious, stick to proper risk management, or avoid leverage altogether. On the other hand, long-term investors may find this an opportunity to dollar-cost average, building their positions gradually.</p>   
<p>Dogecoin’s next moves depend heavily on Bitcoin’s performance and broader market sentiment. As always, stay alert and trade responsibly.</p>   [article_inside_subscriber_shortcode title="Never Miss a Beat in the Crypto World!" description="Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more." category_name="News" category_id="6"]   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1734701751017">
  <strong class="schema-faq-question"><strong>Should I sell my Dogecoin?</strong></strong> 
  <p class="schema-faq-answer">Selling depends on your strategy; the market is volatile, and Dogecoin is at a critical support level, so holding or dollar-cost averaging could be an option.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1734701761109">
  <strong class="schema-faq-question"><strong>Is Dogecoin dead?</strong></strong> 
  <p class="schema-faq-answer">Dogecoin dropped due to Bitcoin's 11.25% decline, triggering market-wide bearish sentiment and increased sell-offs.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1734701768163">
  <strong class="schema-faq-question"><strong>Is Dogecoin a good investment?</strong></strong> 
  <p class="schema-faq-answer">Dogecoin's future depends on Bitcoin's recovery and market trends; it's speculative, so invest only what you can afford to lose.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1734701829797">
  <strong class="schema-faq-question"><strong>Why did DOGE drop?</strong></strong> 
  <p class="schema-faq-answer">Dogecoin dropped due to Bitcoin's 11.25% decline, triggering market-wide bearish sentiment and increased sell-offs.</p> 
 </div> 
</div>

Why Is Dogecoin Crashing? Market Trends and Whale Activity Explained

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