Why traders are fleeing Dogecoin even as Bitcoin, Ethereum stay strong
2025-07-02 05:44:39
Main Idea
Dogecoin (DOGE) is underperforming compared to Bitcoin (BTC) and Ethereum (ETH) despite favorable market conditions, signaling a shift in investor preference away from high-beta assets like DOGE.
Key Points
1. DOGE leads realized losses among major cryptocurrencies, while BTC and ETH show profit dominance.
2. BTC realized profits totaled $1.3 billion with a 40:1 profit-to-loss ratio, indicating strong holding sentiment.
3. ETH realized losses were $18.4 million, accounting for 52% of its $35.2 million in realized activity.
4. Memecoins, including DOGE, have seen an 11.52% market cap decline, while BTC's market cap grew by 2.5%.
5. The DOGE/BTC ratio has retraced over 30%, suggesting DOGE is losing its appeal as a high-beta volatility hedge.
Description
Risk-off holds, DOGE bleeds - Has the high-beta trade snapped?
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