Dogecoin Drops Over 10% Amid Midnight Sell-Off and High Volume
Dogecoin (DOGE) experienced a sharp decline of over 10%, dropping from $0.226 to $0.202 due to a sell-off that increased trading volume to 1.18 billion. The cryptocurrency is currently consolidating between $0.202 and $0.206, indicating market indecision.
- DOGE's price fell 10.6% in one night.
- Decline started at midnight with a 5.5% drop on high volume.
- Key resistance identified at $0.217.
- Consolidation suggests uncertainty in market direction.
- Temporary recovery to $0.205 occurred but lacked volume support.
- Open interest in DOGE derivatives rose 2.89% to $2.71 billion.
Traders are closely monitoring for signs of either a rebound or further decline.