Flow

Dogecoin

when

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/heavy-blow-to-dogecoin-investors-as-liquidations-surge/" data-wpel-link="internal">Heavy Blow to Dogecoin Investors as Liquidations Surge</a><br></p>
<p class="p1" style="text-align: justify"><strong>Coinglass</strong> data indicates that liquidations of long positions in <a href="https://en.coin-turk.com/dogecoin-technical-analysis-important-levels-to-watch/" data-wpel-link="internal">Dogecoin</a>‘s (<a href="https://en.coin-turk.com/dogecoins-market-challenges-and-price-movements/" data-wpel-link="internal">DOGE</a>) futures market have reached the highest level in 30 days over the past 24 hours. This occurred after <a href="https://en.coin-turk.com/anticipation-of-spot-bitcoin-etf-approval-and-halving-to-propel-btc-to-new-heights/" data-wpel-link="internal">Bitcoin</a>‘s price decline led to a broader market downturn. During this period, futures positions worth over $860 million were liquidated among 270,993 investors across the entire cryptocurrency market.</p> 
<h2 class="p1" style="text-align: justify" id="severe-hit-for-doge-investors">Severe Hit for DOGE Investors</h2> 
<p class="p1" style="text-align: justify">On-chain data revealed that the total long position liquidations on the DOGE front amounted to $16 million. The last time the crypto futures market recorded such a high volume of long liquidations was on March 6th.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-340052 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/doge-liq.png" alt="" width="2048" height="599"></p> 
<p class="p1" style="text-align: justify">Liquidations occur when an investor’s position in the futures market is forcibly closed due to insufficient funds to maintain the position. A long liquidation happens when there is an unexpected drop in the price of an asset, forcing investors with open positions betting on a price increase to exit their positions.</p> 
<p class="p1" style="text-align: justify">Comparing these data, Coinglass reported that the total DOGE short sales on the day in question were $3.08 million. According to <strong>CoinMarketCap</strong> data, the DOGE price experienced a 13% drop in the last 24 hours, continuing its weekly losses of 6%.</p> 
<h2 class="p1" style="text-align: justify" id="what-to-expect-for-dogecoin">What to Expect for Dogecoin?</h2> 
<p class="p1" style="text-align: justify">Analysis of the altcoin’s daily price movements suggests potential gains over the weekend. Fundamental momentum indicators revealed a steady decline in DOGE demand. For instance, the Relative Strength Index (RSI) and Money Flow Index (MFI) values were 46.85 and 46.53, respectively. These figures indicate a decrease in altcoin demand among market participants and a sudden increase in crypto sales.</p> 
<p class="p1" style="text-align: justify">Additionally, examinations of the Directional Movement Index (DMI) showed that the positive direction index (green) fell below the negative index (red) on April 12th. This shift in averages indicates a transition from bullish momentum to a bearish trend, signaling a potential resurgence of bears and an increase in profit-taking activities.</p> 
<p class="p1" style="text-align: justify">Lastly, the MACD line for the DOGE price was above the signal line at the time of reporting, confirming this. It also indicated that DOGE’s short-term moving average was higher than its long-term moving average. In summary, Dogecoin investors might be facing a challenging period ahead.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-340051 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/doge-veri.png" alt="" width="2368" height="1388"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/heavy-blow-to-dogecoin-investors-as-liquidations-surge/" data-wpel-link="internal">Heavy Blow to Dogecoin Investors as Liquidations Surge</a></h5>

Heavy Blow to Dogecoin Investors as Liquidations Surge

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