Article Summary
The Dogecoin price has struggled to reach its all-time high despite repeated rallies. The trading volume of the meme coin has been trending low, which could indicate where the price is headed next. Historically, an increase in the derivatives trading volume has often coincided with a rise in the token’s price. Currently, with the derivatives volume still low, it could translate to lower levels for the Dogecoin price. A definite change in the Dogecoin trading volume is required for the price to break towards $0.5 or above the $0.7 all-time high.
What This Means for You
- Be aware of the correlation between the Dogecoin trading volume and its price.
- Keep an eye on the derivatives trading volume for potential changes.
- Prepare for lower levels of the Dogecoin price in the near future.
- Consider the possibility of higher buying pressures required for DOGE to surpass its all-time high.
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The Dogecoin price has failed to reach its all-time high after repeated rallies, with a dance between testing major resistance levels and bulls trying to hold support as sell-offs mount. The trading volume of the meme coin has been trending low, which could indicate where the price is headed next. Historically, an increase in the derivatives trading volume has often coincided with a rise in the token’s price.
DOGE Trading Volume Still Trending Low
The Dogecoin trading volume has been trending low as the price has retracted over the last few months, leading to fluctuations in the market. According to data from the Coinglass website, the Dogecoin derivatives trading volume has not been able to even hit half of where it was back in November 2024.
What This Could Mean For The Dogecoin Price
Historically, the increase in the derivatives trading volume has often coincided with the rise in the token’s price. Currently, with the derivatives volume still low, it could translate to lower levels for the Dogecoin price. However, a break above the $0.7 all-time high would require even much larger figures.
Key Terms
- Dogecoin price
- Derivatives trading volume
- All-time high
- Meme coin
- Sell-offs
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