DOGE (Dogecoin) fell 2.11% in the last 24 hours.

Gate News Bot news, on September 1, according to CoinMarketCap data, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.21, falling 2.11% in the last 24 hours, with a high of $0.23 and a low of $0.21. The current market capitalization is approximately $31.98 billion, a decrease of $688 million from yesterday.

Dogecoin is an open-source peer-to-peer digital currency that is very popular among Shiba Inu enthusiasts. At its core is an unexpected cryptocurrency movement aimed at making people smile. Dogecoin utilizes blockchain technology and is a highly secure decentralized information storage system maintained by a public ledger operated by a network of computers known as nodes. The spirit of Dogecoin can be summarized as "Just do good every day," and it has a vibrant community made up of friendly people.

Important news about DOGE recently:

1️⃣ Luxury goods industry accepts DOGE payments Luxury brand Gucci has begun accepting cryptocurrency payments, including DOGE, at some of its stores in the United States. This move marks an increased recognition of cryptocurrencies in the high-end consumer goods industry, which could bring new use cases and potential user groups for DOGE, helping to enhance its practical value and market demand.

2️⃣ Large DOGE Transfer Sparks Attention A large holder withdrew 20 million DOGE from a centralized exchange, valued at approximately $4.43 million. This holder currently holds a total of 52.9 million DOGE, worth $11.71 million. This large-scale fund transfer may indicate that institutional investors or large holders are adjusting their DOGE holding strategies, which could impact short-term market trends.

3️⃣ High leverage trading triggers market fluctuations Recently, multiple traders' high leverage positions in DOGE faced liquidation. Among them, well-known trader James Wynn's 10x leveraged DOGE long position experienced partial liquidation and currently still holds a DOGE long position worth $143,000. These high leverage trades and liquidation events reflect the current high volatility and high risk in the DOGE market, which may exacerbate short-term price fluctuations.

From a technical perspective, the price of DOGE fluctuates between $0.21 and $0.23, showing a short-term consolidation trend. Considering the acceptance of the luxury goods industry, the transfer of large funds, and the impacts of high-leverage trading, investors should closely monitor subsequent price movements and changes in market sentiment, and carefully assess their investment decisions.

This message is not intended as investment advice; investors should be aware of market volatility risks.