DOGE Funding Rates Turn Negative as Traders Shift Away from Riskier Assets
Release: 2024/06/23 03:24 Reading: 376
Dogecoin Short Bets Rise Amidst Bearish Sentiment
Negative Funding Rates Signal Bearish Market
Traders are shifting away from risky assets like Dogecoin (DOGE) as indicated by negative funding rates. These rates, which reached -0.0027% on Thursday, reflect bearish market sentiment. Such rates were last observed in October 2023.
Declining Prices and Open Interest
DOGE prices have dropped 12% in the past week. Open interest in DOGE futures, which represents unsettled contracts, has also decreased, falling from $800 million to $611 million. These trends indicate reduced demand for DOGE.
Impact on Meme Coin Sector
The negative sentiment extends to the meme coin sector, with tokens experiencing losses of up to 40% over the past week. Traders are opting for stable assets like Bitcoin and stablecoins over risky tokens like DOGE.
Significant Losses for DOGE Futures Traders
DOGE futures traders faced a significant downturn earlier this week. On a single day, $60 million in long positions were liquidated, surpassing liquidations seen in Bitcoin futures. This decline coincided with Bitcoin's recent price struggles, caused by large holder sales and a strengthening U.S. dollar.
Conclusion
With Dogecoin funding rates turning negative and traders shifting away from meme coins, the crypto market faces challenges. Investors are adopting a cautious approach, opting for more stable and less volatile assets.
Recent news
More>- Pepe Unchained Raises $57M in ICO: Analysts Predict Explosive Post-Launch Rally 11-30
- A rising star to outshine Bonk and Pepe, analysts predict 10,000% growth 11-30
- 5 Meme Coins You Don’t Want to Miss for Maximum Profits! 11-30
- 5 Meme Coins You Don’t Want to Miss for Maximum Profits! 11-30
- 5 Meme Coins You Don’t Want to Miss for Maximum Profits! 11-30
- Market Analyst Picks Top 5 Hidden Meme Coins for Massive 12,000% Returns 11-30
- Artificial Superintelligence Alliance Price Prediction: FET Jumps 8% As Pepe Unchained Presale Barrels Past $58.4M Amid CEX Listing Rumors 11-30
- XRP Price Prediction for Today, November 29 – XRP Technical Analysis 11-29
- Swyftx lead analyst predicts altcoins will remain shaky until BTC hits $100,000 11-29
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com