Reason to trust
Editorial policy rejection that focuses on precision, relevance and impartiality
Created by experts in the sector and meticulously revised
The highest standards of reporting and publishing
Editorial policy rejection that focuses on precision, relevance and impartiality
Pretium leo et nisl alquam mollis measles. Quisque Arcu Lorem, ultricies quis pellesque nec, ullamcorper eu hate.
Este Artículo También Está available en español.
The price of Dogecoin was unable to reach its high peaks of all time after repeated gatherings and subsequent beats. So far, it has been a dance between the test of the main levels of resistance and the bulls who try to maintain support as Monte di Sell-off. During this period, there were many fluctuations in the volume of the meme currency. Using historical performance, the dogecoin trading volume could give a suggestion on where the price could be directed later.
The volume of doge trading is still below
The commercial volume of Dogecoin was low as the dogecoin price has been retracted in recent months. This has culminated in a floating market since investors remain very cautious when it comes to the market and consequently the coins of memes as doge have suffered.
Reading Reading
According to data from the Coinglass website, the trading volume of Dogecoin derivatives was not even able to hit half of where it was in November 2024 when the market was pumping. If anything, the decline was coherent, with peaks here and there while the price of the doecoin floated.
Starting from May 19, the volume of negotiation of the total doge derivatives was only $ 6 billion. Compared to the peak of $ 60.11 billion which was recorded in November 2024, the volume of derivatives has been down of my about 90% since then.
There was a small peak in the volume greater than $ 10 billion on May 13, since the dog bulls had pushed at higher prices. However, this was short-lived since another Sell-off round sent the price again, pushing the commercial volume back in response.
What could mean for the price of dogecoin
Historically, the increase in the commercial volume of derivatives has often coincided with the increase in the price of the token. This is visible over the years and quite important in 2021, when the meme coin has recorded its current tall of all times above $ 0.7.
Reading Reading
Currently, with the volume of derivatives still below, it could translate into lower levels for the price of dogecoin. Mainly, cryptocurrency traders are distorted towards short film when it comes to betting on the price of dogecoin, leading to the suppression. In order for this to change, there should be a precise change in the dogecoin trading volume, similar to what has been seen in November 2024.
If the volume is able to return at least above $ 30 billion, it is possible that the price of dogecoin breaks towards $ 0.5. However, a break above $ 0.7 of all time would require much larger figures. Despite the volume that beat the 2021 peak of $ 24.82 billion, the dogecoin price has not yet crossed $ 0.5. This suggests much higher purchase pressures than 2021 to send still dogecoin price above $ 0.7.
First floor image from Dall.e, tradingView.com graphic