Why traders are fleeing Dogecoin even as Bitcoin, Ethereum stay strong

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.