According to external sources, market pressure rose significantly after Dogecoin fell by 0.08 dollars. The coin went down to about $0.079, almost three weeks low. It was reported that the downturn was driven mainly by the strong and active stale balance of the derivatives market, but that there was still some off-the-shelf succession.
Multiple liquidations zoom in.
According to CoinGlass, some $7.68 million was liquidated after DOGE dropped key prices. The price of the initial bets kept the leverage of $0.08 from the field, further accelerating the decline.
In the sustainable contract market, the turnover rose to $1.3 billion, and the buyout fell to $1.1 billion and net buy-in negative. According to the report, the seller was in the vanguard of short-term transactions, with more silos choosing to settle or turn to defense.
Futures money continues to flow.
Similar changes have occurred in futures markets. Over the past 24 hours, the volume of outflows was approximately $460 million, higher than $413 million in inflows, and net futures flows fell to about a negative $46 million.
It is reported that this data reflects futures traders being proactive in reducing risk exposure. If the sales pressure on the derivatives market continues to be maintained, DOGE prices may still be further refined, with short wires or tests around $0.075.
There's still a low-end buyout on the spot.
Unlike the derivatives market, spot data are not completely weaker. DOGE net outflows have been expanded to approximately $7.7 million, which usually means that more tokens are presented as a platform for dealing, rather than being sold directly.
According to the article, this indicates that some of the holders are not willing to sell at their current prices and that the market still has low absorption. If the buyout continues to pick up, DOGE will need to recover $0.08 and reposition $0.085 on the short line before it can alleviate the current vulnerable structure.