Dogecoin

Velo

Simply

Shiba Inu

Time

<p>Dogecoin (DOGE), the cryptocurrency that started as a joke but became a market sensation, has seen a 10% decline this year. According to analytics from the Velo Data app, the bearish sentiment is particularly strong during European trading hours.</p> 
<h3 class="wp-block-heading" id="the-influence-of-time-zones-on-doge-s-performance">The Influence of Time Zones on DOGE’s Performance</h3> 
<p>Data reveals a stark contrast in DOGE’s performance based on the time zones. During European and U.S. trading hours, the cryptocurrency has suffered with year-to-date returns of -44.44% and -25%, respectively. On the flip side, the Asia-Pacific trading day has seen a positive return of 25.6%.</p> 
<p><strong>European Hours</strong>: 8:00 a.m. to 6:00 p.m. Brussels time<br><strong>U.S. Hours</strong>: 8:00 a.m. to 6:00 p.m. New York time<br><strong>Asian Hours</strong>: 8:00 a.m. to 6:00 p.m. Seoul time</p> 
<p>In essence, sellers have been more active during the European and U.S. trading windows, while buyers have seized control during the Asian hours.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" loading="lazy" width="1024" height="535" src="https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-1024x535.png" alt="" class="wp-image-324251" srcset="https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-1024x535.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-300x157.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-767x401.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-1536x803.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-2048x1071.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-287x150.png 287w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-669x350.png 669w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830-788x411.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/08/image-830.png 811w" sizes="(max-width: 1024px) 100vw, 1024px"> 
</figure> 
<p>Shiba Inu (SHIB), another <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> cryptocurrency often dubbed as the “Dogecoin killer,” mirrors DOGE’s trading pattern. Meanwhile, Bitcoin has shown resilience, primarily rallying during American hours.</p> 
<p>Velo Data chose these time windows based on local volume profiles and stock exchange hours, acknowledging some overlap between the sessions.</p> 
<h2 class="wp-block-heading" id="the-south-korean-influence">The South Korean Influence</h2> 
<p>Meme cryptocurrencies like DOGE and SHIB have been popular on South Korean exchanges such as Upbit and Bithumb. This explains their positive performance during Asian trading hours. For instance, during DOGE’s 10% surge in late July, a significant portion of the trading volume originated from Upbit, a platform known for its speculative crypto-Korean won trading pairs.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>According to Matrixport, South Korea’s market has a strong appetite for smaller tokens, driven by factors like limited social mobility opportunities, high property prices, and a competitive labor market.</p> 
<p>The underwhelming performance of DOGE and SHIB during U.S. and European hours aligns with the uncertain regulatory landscape for alternative cryptocurrencies. The U.S. Securities and Exchange Commission (SEC) has been scrutinizing altcoins, as evidenced by its lawsuits against Coinbase and Binance filed in June. Although DOGE and SHIB were not directly mentioned, any tightening of regulations could adversely affect the meme cryptocurrency market.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/navigating-dogecoins-10-slump-the-role-of-european-market-hours/">Navigating Dogecoin’s 10% Slump: The Role of European Market Hours</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Navigating Dogecoin’s 10% Slump: The Role of European Market Hours

Table of Contents

CaptainAltcoin

Other articles published on Aug 29, 2023

Ex Ameritrade CEO Hopes SEC Approves a Spot Bitcoin ETF, Says It’s Better for Investors

US SEC Files First Enforcement Action Against an NFT Project

Crypto Market Rallies on Grayscale’s Victory Against U.S SEC

Opinion: Bad timing leads to speculation on CoinDesk retractions

Clockwork to cease operations over limited commercial viability

Shiba Inu Price Prediction as SHIB Spikes Up 2% – Time to Buy?

Join our free newsletter for daily crypto updates!