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$1.95 Billion in Dogecoin Hit Despite 25% Slump: Details
In a stunning turn of events, it has been reported that an astonishing $1.95 billion in Dogecoin (DOGE) transactions took place despite the cryptocurrency’s recent 25% slump.
According to data from CoinMarketCap, the total market capitalization of DOGE hit a high point last week when it surpassed $18.5 billion, marking a significant increase of nearly $2 billion in just a few days. This surge comes as no surprise given the recent endorsement of the Dogecoin ETP (Exchange-Traded Product) by the foundation, which has been working closely with its official corporate arm, the House of Doge.
Market analysts have taken note of this sudden influx of investment into DOGE, attributing it to the growing popularity of decentralized finance (DeFi) and the increasing adoption of cryptocurrency in mainstream financial markets. The significant rally seen by DOGE’s price has also sparked interest from institutional investors, who see potential gains in the meme coin.
It is worth noting that some experts have cautioned against a sharp correction, citing concerns about the cryptocurrency’s recent overperformance, which may lead to a reversal in the coming days. Market participants are advised to exercise caution and consider diversifying their portfolios during this time of market uncertainty.
As DOGE continues its journey as one of the most popular cryptocurrencies on the market today
Source: https://u.today/195-billion-in-dogecoin-hit-despite-25-slump-details
