In recent trading activities, Dogecoin (DOGE), one of the most recognizable names in the world of cryptocurrencies, has been struggling to maintain its footing. Over the last 24 hours alone, the popular memecoin experienced an over 8% dip, bringing its current price down to approximately [openai_gpt model=”gpt-4o-mini” prompt=”You are a news reporter covering the cryptocurrency industry. Given the article description, provide an introductory overview of the news in an informative style. AVOID using overly technical terms or details! DO NOT offer recomendations to buy or sell any assets! Analyze from a fact-based perspective and bring in additional research when claims are made. Write this overview with creativity and flair, ensuring it reads like a human-written text and incorporates keywords in a natural way for SEO optimization. Generate HTML-formatted content using only
, and
tags. Exclude headings and other HTML tags. DO NOT include a ‘Conclusion’ section! Here is the product description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].158. This downturn follows a concerning trend, as Dogecoin has lost a staggering 41% of its value from early March to mid-March.
The situation is not isolated to Dogecoin; the entire memecoin sector appears to be under significant pressure. Shiba Inu (SHIB), often regarded as the second largest memecoin, has also seen a decline of about 7%, while Ethereum-based Pepe (PEPE) fell around 8%. Additionally, Solana’s SPX6900 suffered the most severe drop, plummeting by 28%. Such widespread losses have contributed to a collective market contraction of approximately 7.5%, erasing around .54 billion from the memecoin market capitalization.
The prevailing bearish sentiment can be linked to broader economic uncertainties, including apprehensions surrounding President Trump’s tariffs, which have sparked a risk-averse attitude among investors. This has led to a notable liquidation of long DOGE positions, with over million wiped out in just one day. Since late February, the liquidated total for long positions has reached an alarmingly high 1 million, accompanying Dogecoin’s steep price decrease.
“The funding rate for DOGE has turned negative, suggesting that short sellers currently hold the advantage.”
Market observers note that Dogecoin’s challenges extend beyond price drops; the total open interest for DOGE has diminished by 37% in just a week, indicating a retreat from trading activities. The sentiment is further exacerbated by technical indicators that suggest a difficult road ahead, as consistent resistance levels have thwarted previous recovery attempts, leading many traders to adopt a bearish stance.
As the memecoin sector navigates these tumultuous waters, the outlook remains uncertain. Traders are keeping a close eye on critical support levels to determine if the market can regain its footing or if further declines may loom on the horizon.
Overview of Dogecoin’s Current Market Sentiment
Dogecoin (DOGE) has experienced significant declines recently, reflecting broader trends in the memecoin sector. Here are the key points to consider:
- Recent Performance
- DOGE fell over 8% in the last 24 hours, currently trading at [openai_gpt model=”gpt-4o-mini” prompt=”Based on the article content, generate a list of key points in an HTML format using Bold, UL/OL. Focus solely on the most important aspects, and describe how they might be related or impact the readers life if at all. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
,
,
,
- , and
tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].158.
- It lost 41% of its value between March 3 and March 11, reaching its lowest price in four months at [openai_gpt model=”gpt-4o-mini” prompt=”Based on the article content, generate a list of key points in an HTML format using Bold, UL/OL. Focus solely on the most important aspects, and describe how they might be related or impact the readers life if at all. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
,
,
,
- , and
tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].142.
- Impact on the Memecoin Sector
- The downturn is part of a broader bearish sentiment across the memecoin market.
- Shiba Inu (SHIB) and Pepe (PEPE) have also reported declines, with SHIB down 7% and PEPE down approximately 8%.
- The total market capitalization of memecoins dropped by 7.5%, losing .54 billion.
- Investor Behavior
- Negative sentiment attributed to macroeconomic uncertainties has driven investors away from volatile assets like memecoins.
- Over million in long DOGE positions were liquidated in the past 24 hours, indicating strong bearish pressure.
- Total liquidations since February 24 reached 1 million amid a 41% price drop.
- Market Positioning and Indicators
- DOGE’s open interest has decreased by 37% in the last week, signifying waning trader interest.
- Negative funding rates suggest that short sellers have taken control of the market narrative.
- A major resistance zone exists between [openai_gpt model=”gpt-4o-mini” prompt=”Based on the article content, generate a list of key points in an HTML format using Bold, UL/OL. Focus solely on the most important aspects, and describe how they might be related or impact the readers life if at all. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
,
,
,
- , and
tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].24 and [openai_gpt model=”gpt-4o-mini” prompt=”Based on the article content, generate a list of key points in an HTML format using Bold, UL/OL. Focus solely on the most important aspects, and describe how they might be related or impact the readers life if at all. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
,
,
,
- , and
tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].26, where previous attempts by DOGE to rise have failed.
- Support levels to watch are between [openai_gpt model=”gpt-4o-mini” prompt=”Based on the article content, generate a list of key points in an HTML format using Bold, UL/OL. Focus solely on the most important aspects, and describe how they might be related or impact the readers life if at all. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
,
,
,
- , and
tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].150 and [openai_gpt model=”gpt-4o-mini” prompt=”Based on the article content, generate a list of key points in an HTML format using Bold, UL/OL. Focus solely on the most important aspects, and describe how they might be related or impact the readers life if at all. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
,
,
,
- , and
tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].127, crucial for preventing further losses.
Note: This overview does not constitute investment advice. All trading involves risks, and readers are encouraged to conduct personal research.
Dogecoin Faces Downturn Amid Market Volatility: A Comparative Analysis
Recently, Dogecoin (DOGE) has experienced troubling performance trends, falling more than 8% within a single day to reach [openai_gpt model=”gpt-4o-mini” prompt=”Given the product description, provide a comparative analysis with similar news in the category. Do not directly repeat the details. Instead, focus on the news competitive advantages and disadvantages, and suggest who the news is could benefit or create problems for. Use engaging, human-like language and incorporating keywords naturally for SEO purposes. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
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and tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].158. This stark decline mirrors the broader struggles within the memecoin sector, notably affecting its contenders such as Shiba Inu (SHIB) and Pepe (PEPE). Let’s take a closer look at how DOGE’s performance aligns or deviates from the rest of the memecoin market, highlighting competitive advantages and disadvantages, and identifying who may reap the benefits or face challenges as a result.
Competitive Disadvantages: Dogecoin’s recent plunge has been steep; it lost a staggering 41% in value over a stretch between early March and mid-March, establishing its lowest price point in four months at [openai_gpt model=”gpt-4o-mini” prompt=”Given the product description, provide a comparative analysis with similar news in the category. Do not directly repeat the details. Instead, focus on the news competitive advantages and disadvantages, and suggest who the news is could benefit or create problems for. Use engaging, human-like language and incorporating keywords naturally for SEO purposes. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
and tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].142. The broader memecoin market reflects a negative trend, indicated by Shiba Inu’s decline of 7% and Pepe’s similar drop. The fall in market capitalization has wiped out .54 billion in just 24 hours, demonstrating how fragile investor sentiment is in this ecosystem. With Dogecoin leading the slump, its position as the top memecoin is increasingly precarious. The sentiment among investors has turned risk-averse, exacerbated by macroeconomic uncertainties like potential changes in tariffs under President Trump, resulting in a mass exodus from high-volatility assets.
Competitive Advantages: Despite the bearish trends, it’s essential to recognize that Dogecoin still holds the title of the largest memecoin by market capitalization. This significant market presence could work to its advantage by attracting new investors seeking to enter a well-established asset, especially if they perceive the current dip as a buying opportunity. The attention Dogecoin receives, partly due to its support from community figures and celebrities, may bolster interest and provide a buffer compared to its lower-ranking counterparts during bearish phases.
However, sharp long position liquidations—over million in just 24 hours—signal that bullish traders are feeling the heat, pressured into selling. This could encounter resistance from new entrants who might benefit from the current dip, but the heavy selling could also deter cautious participants. Those heavily invested in DOGE may find themselves in a challenging predicament as the altcoin battles against key moving averages, further complicating its ascent.
Moreover, the decline in open interest by 37% signifies decreased trader participation. For seasoned traders, this could spell an exit strategy, as long liquidations underscore a superficial bullish sentiment. In essence, while new buyers might find an opportunity to invest at lower prices, existing holders could be left grappling with painful losses as they watch the altcoin falter against significant resistance points between [openai_gpt model=”gpt-4o-mini” prompt=”Given the product description, provide a comparative analysis with similar news in the category. Do not directly repeat the details. Instead, focus on the news competitive advantages and disadvantages, and suggest who the news is could benefit or create problems for. Use engaging, human-like language and incorporating keywords naturally for SEO purposes. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
and tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].24 and [openai_gpt model=”gpt-4o-mini” prompt=”Given the product description, provide a comparative analysis with similar news in the category. Do not directly repeat the details. Instead, focus on the news competitive advantages and disadvantages, and suggest who the news is could benefit or create problems for. Use engaging, human-like language and incorporating keywords naturally for SEO purposes. Begin with a title using
HTML tag in this format: ‘
Title Goes Here
‘. Use only
and tags. DO NOT include a ‘Conclusion’ section! Here is the topic description: ‘Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.'”].26.
As the landscape shifts, those engaged in memecoins must navigate carefully, balancing enthusiasm for potential rebounds against the stark realities of market volatility. With the sector plagued by uncertainty, the current environment raises questions about the longevity of memecoins as a viable investment choice, leaving traders and investors alike pondering whether these digital assets represent a promising prospect or an impending risk.
