$751 Million Crypto Crash Puts Dogecoin (DOGE) $0.20 Level at Risk: Details
Main Idea
Dogecoin (DOGE) experienced a significant drop in value, with over $751 million in leveraged positions liquidated, putting the $0.20 support level at risk.
Key Points
1. Dogecoin (DOGE) fell nearly 10%, with over $751 million in leveraged positions liquidated, mostly from long positions.
2. The DXY (Dollar Index) increased, pushing traders to reduce exposure to risky assets like cryptocurrencies.
3. DOGE's price dropped to $0.201, marking a 9.17% decline in 24 hours and an 11% weekly drop.
4. The coin has been declining since its high of $0.248 on July 28, potentially marking its fifth consecutive day of losses.
5. Traders are monitoring whether DOGE can maintain support above $0.20 or if it will rebound above the 200-day SMA at $0.212.
Description
Dogecoin plunged nearly 10% to begin August on shaky note
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