DOGE (Dogecoin) rose 3.28% in the last 24 hours

Gate News Bot message, on August 27, according to CoinMarketCap data, as of the time of publication, DOGE (Dogecoin) is currently priced at $0.22, with a rise of 3.28% in the last 24 hours, reaching a high of $0.24 and a low of $0.21, with a 24-hour volume of $2.083 billion. The current market capitalization is approximately $32.745 billion, an increase of $1.04 billion compared to yesterday. DOGE is currently ranked 9th in the global crypto assets market capitalization.

Important news about DOGE recently:

1️⃣ Large amounts of DOGE transferred from centralized exchanges Blockchain data shows that a new wallet address transferred 32.9 million DOGE from a centralized exchange within 16 hours, valued at approximately $6.96 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.

2️⃣ High leverage trading triggers large liquidations Recently, multiple traders' high-leverage long positions in DOGE have faced liquidation. Among them, one trader's entire long position in DOGE with 10x leverage was fully liquidated, resulting in a loss of up to $22,627. Another well-known trader, James Wynn, also faced partial liquidation of his 10x leverage DOGE long position and currently still holds a long position in DOGE worth $143,000. These large liquidation events reflect the current high volatility and high risk in the DOGE market.

3️⃣ Market performance fluctuates sharply The price of DOGE has experienced significant fluctuations in the past few days. On August 25, DOGE dropped by 3.74%, with a market capitalization shrinkage of approximately $1.339 billion. On August 26, DOGE further declined by 8.08%, with a market capitalization reduction of about $2.760 billion compared to the previous day. However, the latest data shows that DOGE has rebounded by 3.28%, with a market capitalization increase of $1.04 billion. This extreme volatility reflects the high uncertainty in the current DOGE market, and investor sentiment may be influenced by multiple factors.

From a technical perspective, the price of DOGE fluctuates between 0.21 and 0.24 USD, showing a short-term oscillating trend. Considering the risks brought by recent large fund transfers and high leverage trading, investors should closely monitor subsequent price movements and changes in market sentiment, carefully assessing their investment decisions.

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