$1.95 Billion in Dogecoin Hit Despite 25% Slump: Details

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Despite a 25% drop in 24-hour trading volume, Dogecoin maintained a significant trading activity of $1.95 billion, according to CoinMarketCap. This demonstrates continued trader interest, even amidst broader market volatility and price declines affecting several digital assets. Dogecoin itself experienced a 25% decrease in trading volume compared to the previous day.

At press time, DOGE was trading at $0.146, down 5.41% in the last 24 hours and 14.6% over the past seven days. While experiencing a 16% monthly pullback, it remained within a $0.129 to $0.18 range over the past week. The sustained trading volume suggests investors are either awaiting opportune re-entry points or anticipating a potential price rebound. Although volume is down, Dogecoin remains a notable player in the market.

Dogecoin ETP Launches

21Shares, a leading issuer of crypto exchange-traded products (ETPs), announced the listing of a fully backed Dogecoin ETP on the SIX Swiss Exchange (ticker: DOGE). This is the first and only Dogecoin ETP endorsed by the Dogecoin Foundation, developed in collaboration with the House of Doge, the foundation's official corporate arm.

Dogecoin's recent low of $0.129 on April 7th triggered buying pressure, resulting in a subsequent price rebound. With current market uncertainty, the $0.14 level is expected to see strong buyer support; a breach below this level could lead to a retest of $0.12. Conversely, breaking above the key resistance level of $0.18 would signal weakening bearish momentum, potentially leading to a rise towards the 50-day SMA ($0.186) and the 200-day SMA ($0.256).

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