{"id":383110,"date":"2024-04-10T10:30:32","date_gmt":"2024-04-10T05:00:32","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=383110"},"modified":"2024-06-17T16:22:06","modified_gmt":"2024-06-17T10:52:06","slug":"dogecoins-rough-day-prices-dip-5-while-wif-pepe-enjoy-gains","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/dogecoins-rough-day-prices-dip-5-while-wif-pepe-enjoy-gains\/","title":{"rendered":"Dogecoin&#8217;s rough day: Prices dip 5% while WIF, PEPE enjoy gains"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">DOGE\u2019s value has reduced by almost 5% in the past 24 hours.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Trading activity in its derivative and spot markets has cratered.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"http:\/\/ambcrypto.com\/category\/dogecoin-news\/\" target=\"_blank\" rel=\"noopener\">Dogecoin\u2019s [DOGE]<\/a> price fell by almost 5% in the last 24 hours at press time, while the prices of other leading meme assets have registered minor gains.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> According to CoinMarketCap, during that period, the prices of memecoins, such as <a href=\"https:\/\/ambcrypto.com\/predictions\/dogwifcoin-price-prediction\/\" target=\"_blank\" rel=\"noopener\">dogwifhat [WIF]<\/a> and <a href=\"https:\/\/ambcrypto.com\/category\/pepe-coin-news\/\" target=\"_blank\" rel=\"noopener\">Pepe [PEPE]<\/a>, have increased by 1.15% and 1%, respectively.<\/span><\/p>\n<p><b>The demand for DOGE loses momentum<\/b><\/p>\n<p><span style=\"font-weight: 400;\">At press time, DOGE traded at $0.19. The coin\u2019s trading volume has declined by 10% in the past 24 hours.\u00a0<\/span><span style=\"font-weight: 400;\">On-chain data retrieved from <\/span><a href=\"https:\/\/app.santiment.net\/charts\/m8sOR_Y4__sCl\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Santiment<\/span><\/a><span style=\"font-weight: 400;\"> showed that the price fall was caused by a drop in demand for the altcoin during the period under review. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The daily count of addresses involved in transactions involving DOGE has plummeted by 61%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Due to the decline in DOGE\u2019s daily active addresses in the past 24 hours, the count of transactions completed within that period involving the altcoin has also decreased. According to Santiment\u2019s data, it has fallen by 73%.<\/span><\/p>\n<figure id=\"attachment_383116\" aria-describedby=\"caption-attachment-383116\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024.png\"><img decoding=\"async\" class=\"wp-image-383116 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024.png\" alt=\"DOGE Network Activity\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/Dogecoin-DOGE-09.19.01-09-Apr-2024-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-383116\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">An assessment of DOGE\u2019s social activity revealed a decline since 7th April.\u00a0 <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The social dominance and social volume metrics, which track an asset\u2019s individual interactions, socially driven engagements, and actions such as likes, comments, retweets, and upvotes, are important as they are precursors to the growth in an asset\u2019s price or otherwise.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to Santiment, DOGE\u2019s social dominance and social volume have dropped by 33% and 78% in the past two days.\u00a0<\/span><\/p>\n<h4><b>DOGE\u2019s futures market offers no respite<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Poor sentiments were also observed in the coin\u2019s derivatives market, as <a href=\"https:\/\/www.coinglass.com\/currencies\/DOGE\" target=\"_blank\" rel=\"noopener\">Coinglass<\/a> data showed a double-digit decline in trading volume in the last 24 hours. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">During the same period, the coin\u2019s futures open interest has decreased by 4%. As of this writing, this was $1.64 billion.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"http:\/\/ambcrypto.com\/predictions\/dogecoin-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Dogecoin\u2019s [DOGE] Price Prediction<\/a>\u00a02024-25<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">As the meme market hype declined, DOGE\u2019s futures open interest initiated a decline and trended downward since the beginning of April. Between the 1st and 9th of April, the memecoin\u2019s futures interest has fallen by 26%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When an asset\u2019s open interest declines this way, it signals a decline in market activity. It suggests that futures market participants are exiting their positions without opening new ones.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the values of WIF and PEPE register minor gains, DOGE\u2019s price has fallen by 5% in the last 24 hours.<\/p>\n","protected":false},"author":64,"featured_media":383118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,6387,5824,66,3,6390,6388,4,20],"tags":[],"class_list":["post-383110","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-dogecoin-news","category-memecoins","category-new-news","category-news","category-pepe-coin-news","category-shiba-inu-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Dogecoin&#039;s rough day: Prices dip 5% while WIF, PEPE enjoy gains - 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