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cointelegraph.com Mar 11, 2025 12:58

Why is Dogecoin price down today? - Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.What to know:Dogecoin lost 41% of its value between March 3 and March 11.The top memecoin established its lowest price in four months at $0.142 on March 11.DOGE/USD daily price chart. Source: Cointelegraph/TradingViewDogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.DOGE’s technicals and onchain data hint at further declines.DOGE leads memecoin slumpDogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.Key takeaways:Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167. Ethereum-based Pepe (PEPE) has dropped by approximately 8%.Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by 28%.Top memecoins’ performance. Source: CoinMarketCapThis bearish performance has seen the combined market capitalization drop by 7.5% over the last 24 hours, wiping out $4.54 billion from the market.Memecoin market cap. Source: CoinMarketCapThe risk-off behavior from investors comes amid increasing negative sentiment fueled by macroeconomic uncertainties tied to President Trump’s tariffs. This has spooked investors, pushing them away from volatile assets like memecoins.Over $23 million in long DOGE positions liquidatedDogecoin’s bearishness on March 11 is accompanied by significant liquidations in the derivatives market, signaling strong bearish pressure.Key points:Over $23.1 million worth of long DOGE positions have been liquidated over the last 24 hours alone, compared to $4.4 million in short liquidations.Bullish traders are forced to sell their positions when long positions are liquidated.Total DOGE liquidations. Source: CoinGlassA total of $161 million in long DOGE positions have been liquidated since Feb. 24, accompanying a 41% drop in price over the same period.Related: Memecoins are likely dead for now, but they’ll be back: CoinGeckoDOGE’s open interest (OI) has also dropped 37% in the past seven days, signaling a decline in trader participation.DOGE futures open interest. Source: CoinGlassThe low OI and long liquidations suggest that leveraged traders are exiting their positions, triggering forced selling.The funding rate has flipped negative, and its value at -0.0077% suggests a bearish outlook where short sellers are in control. DOGE OI-weighted funding rate. Source: CoinGlassMoving averages are not in Dogecoin’s favorThe ongoing drawdown comes after DOGE ran into a major resistance zone.Notably:A key barrier sits between $0.24 and $0.26, within which the 200-day simple moving average (SMA) at $0.247 and the 50-day SMA at $0.257 are currently. Since Feb. 3, DOGE bulls have attempted to rise above this level three times, but on each occasion, the altcoin produced a lower high than the previous one. This means that traders sell every time the price tries to cross this zone.An additional barrier sits higher up at $0.3129, which is also the 100-day SMA.DOGE/USD daily chart. Source: Cointelegraph/TradingViewOn the downside, a key area of interest lies between the psychological level at $0.150 and the range low at $0.127, reached on Oct. 26, 2024.This is an important level that bulls need to defend in order to avoid further losses to $0.10.Note that when the DOGE bounced off this level in November 2024, it initiated a 227% rally to $0.480. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 85%
cointelegraph.com Mar 11, 2025 13:23

Ether risks $1.8K correction as ETF outflows, tariff fears continue - Ether is struggling to reverse a near three-month downtrend as macroeconomic concerns and continued selling pressure from US Ether exchange-traded funds (ETFs) weigh on investor sentiment.Ether (ETH) has fallen by more than 53% since it began its downtrend on Dec. 16, 2024, when it peaked above $4,100, TradingView data shows.The downtrend has been fueled by global uncertainty around US import tariffs triggering trade war concerns and a lack of builder activity on the Ethereum network, according to Bifinex analysts.ETH/USD, 1-day chart, downtrend. Source: Cointelegraph/ TradingView “A lack of new projects or builders moving to ETH, primarily due to high operating fees, is likely the principal reason behind the lackluster performance of ETH. [...] We believe that for ETH, $1,800 will be a strong level to watch,” the analysts told Cointelegraph. “However, the current sell-off is not being seen solely in ETH, we have seen a marketwide correction as fears over the impact of tariffs hit all risk assets,” they added.Related: Bitcoin reserve backlash signals unrealistic industry expectationsCrypto investors are also wary of an early bear market cycle that could break from the traditional four-year crypto market pattern.Bitcoin (BTC) is at risk of falling to $70,000 as cryptocurrencies and global financial markets undergo a “macro correction” while remaining in a bull market cycle, said Aurelie Barthere, principal research analyst at blockchain analytics firm Nansen.Related: Deutsche Boerse to launch Bitcoin, Ether institutional custody: ReportEther price limited by ETF outflowsAdding to Ethereum’s challenges, continued outflows from Ether ETFs are limiting the asset’s price recovery, according to Stella Zlatareva, dispatch editor at digital asset investment platform Nexo:“ETH’s 20% decline last week pushed its price below the key $2,200 trendline that had supported its bull market recovery since 2022. The modest price action may be attributed, as with Bitcoin, to ETFs.”US spot Ether ETFs have entered their fourth week of consecutive net negative outflows, after seeing over $119 million worth of cumulative outflows during the previous week, Sosovalue data shows.Total spot Ether ETF net inflow. Source: SosovalueStill, some notable institutional crypto market participants remain optimistic about Ether’s price for 2025. VanEck predicted a $6,000 cycle top for Ether’s price and a $180,000 Bitcoin price during 2025.Magazine: Ethereum L2s will be interoperable ‘within months’: Complete guide

FOMO: 85%
cointelegraph.com Mar 11, 2025 13:33

Yuga exec warns about ‘true bear market’ Ether price as whales scramble - Yuga Labs’ vice president of blockchain has warned that Ether could drop as low as $200 in a prolonged bear market, a 90% decline from its current price.In a March 11 post on X, the executive, known as “Quit,” pushed back against analysts who suggest $1,500 as a possible bottom for Ether (ETH). Instead, Quit argued that a true bear market could see ETH fall significantly lower, similar to previous market cycles.“A true bear market target, if we’re just getting started, would be ~$200-$400. That’s an 80% drawdown from here, 90% total drawdown -- in line with past bear markets.”The executive said he’s in a “comfortable” position if things go south. Quit told followers to consider selling their stash if they’re uncomfortable with the asset going down. Source: QuitETH holders discuss potential price trajectoryQuit’s post triggered mixed reactions from the crypto community. Some investors agreed that ETH could drop further, while others said such a scenario would require a major systemic collapse similar to 2018.One X user said they set $1,800 as the bottom. However, when the price reached $1,800, they contemplated whether it could go to $1,200. The ETH holder agreed with Quit’s prediction and said, “It could very well go lower” if Bitcoin (BTC) goes to $66,000.Meanwhile, another X user disagreed with the prediction, saying it would only be possible if there were a systemic collapse similar to 2018. The ETH investor said that, unlike previous cycles, Ether has been adopted by institutions and has a maturing ecosystem. “Positioning for both scenarios is what every smart investor should done, but being too bearish at the wrong time can cost just as much as being overly bullish,” they wrote.Related: 4 things must happen before Ethereum can reclaim $2,600ETH whales scramble against liquidation threatQuit’s sentiments came as ETH whales scrambled to avoid liquidation as Ether prices collapsed. On March 11, CoinGecko data showed that ETH prices went to a low of $1,791 on a 22% decline in the past 7 days. Because of the sharp price changes, ETH whales moved millions of dollars in ETH to protect their positions against potential liquidation. Blockchain analytics firm Lookonchain flagged an ETH whale dumping $47.8 million and losing $32 million to avoid being liquidated. The whale still has over $64 million at the lending protocol Aave with a liquidation price of $1,316. Another ETH investor who had already used over $5 million in assets to lower the liquidation price to $1,836 started to be liquidated. Lookonchain said the whale’s $121 million balance is being liquidated as the price dropped below $1,800. A whale account suspected of being linked to the Ethereum Foundation also used $56 million in ETH to avoid liquidation amid the price drop. The address deposited over 30,000 ETH to the Sky vault, bringing its liquidation price to $1.127.14. The account was later determined to be unrelated to the foundation. Magazine: ETH whale’s wild $6.8M ‘mind control’ claims, Bitcoin power thefts: Asia Express

FOMO: 90%
cointelegraph.com Mar 11, 2025 13:45

3 reasons XRP might drop to $1.60 in March - The XRP (XRP) daily chart registered its lowest candle close in 99 days on March 10. The altcoin dropped below the $2 support level but registered a short-term recovery of 12% on March 11. XRP 1-hour chart. Source: Cointelegraph/TradingViewOn the high time frame (HTF) charts, XRP must hold above its psychological level at $2, but other metrics suggest that a deeper drawdown is possible. XRP markets lacks buyers as futures flip bearishXRP price is currently down 37.1% from its all-time high of $3.40. When prices dipped by a similar percentage on Feb. 3, spot market bids quickly absorbed the selling pressure, pushing XRP above $2.50. XRP’s spot and perpetual aggregated data. Source: aggr.tradeHowever, XRP‘s spot and perpetual markets were relatively bearish over the past week. Data from aggr.trade indicates that XRP’s spot cumulative volume delta (CVD) has dropped by 50% in March. A negative CVD means that there is more selling volume than buying. The current CVD value is -$408 million, which signals waning demand, with sellers taking control.Likewise, futures traders are also turning bearish, with perpetual CVD dropping to -1.18 billion on March 11. XRP’s open interest-weighted funding rate has also turned significantly negative, which indicates more short positions were added over the past few days. XRP funding rate chart. Source: CoinglassXRP whales continue selling spreeLast week, XRP’s volume bubble map showed a surge in activity toward the end of February. Ki-Young Ju, CryptoQuant founder, observed that this uptick aligned with an ongoing distribution phase for XRP. Distribution refers to a period in the market cycle when large investors slowly offload their positions to secure gains, usually happening close to the peak of an upward trend.Related: Why is the XRP price down today?Current data reveals that the distribution phase has intensified over the past seven days. Specifically, whale outflows, measured as a 30-day moving average—have steadily risen. This increase suggests that large holders continued to offload their XRP positions, further driving the distribution trend.XRP total whale flows. Source: CryptoQuantBetween March 4 and March 10, these large XRP holders offloaded roughly $838 million in positions. This significant sell-off reflects the ongoing bearish trend for XRP.XRP price H&S pattern hints at $1.60 retestOn March 11, XRP’s 1-day chart closed below $2.05, which is the critical neckline of the daily head-and-shoulders pattern. This pattern has potentially strong bearish consequences when observed on a high time frame (HTF) chart. XRP 1-day chart. Source: Cointelegraph/TradingViewLower price are likely if XRP fails to reclaim $2.05 as support, as illustrated in the chart above. The immediate target zone for XRP price remains between 0.5 and 0.618 Fibonacci retracement lines. Also known as the “golden zone,” the retest range lies between $1.90 and $1.60. The likelihood of retesting the 0.618 Fibonacci or $1.60 is high in the current bearish environment.Failure to hold this range could lead to a retest of the long-term demand zone between $1.58 and $1.27.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 90%