Dogecoin Faces Risk Below $0.20 as Crypto Liquidations Exceed $758 Million
The digital asset market experienced a significant decline this week, particularly affecting memecoin Dogecoin which fell nearly 10% in one day to $0.201, marking an over 11% loss for the week.
Key Developments
- A stronger dollar and unchanged interest rates prompted traders to exit risky positions.
- Over $758 million in leveraged positions were liquidated, primarily from long positions, with Ethereum seeing the largest losses at $231.41 million.
- Dogecoin is currently trading below its 200-day moving average of $0.212.
- If it drops below the $0.20 support level, the next key support is around $0.194.
- Whales purchased 310 million DOGE in a single day, raising speculation about a potential rally.
Market sentiment remains cautious as the stronger dollar impacts crypto assets.
Bitcoin Hyper Presale Gains Interest
- Bitcoin Hyper is attracting attention as a Layer 2 solution aimed at addressing Bitcoin's transaction speed and fee issues.
- Funds raised total $6.3 million with the current presale price set at $0.012475.
- The presale supports various payment methods including ETH, USDT, and BNB.