DOGE (Dogecoin) fell 8.08% in the last 24 hours.

Gate News Bot news, August 26, according to CoinMarketCap data, as of the time of writing, DOGE (Dogecoin) is currently priced at $0.21, with a 24-hour fall of 8.08%, reaching a high of $0.24 and a low of $0.21. The current market capitalization is approximately $31.382 billion, a decrease of about $2.760 billion from yesterday.

Dogecoin is an open-source peer-to-peer digital currency that is beloved by Shiba Inu enthusiasts. As a cryptocurrency, Dogecoin utilizes blockchain technology, providing a highly secure decentralized information storage system maintained by a network of computers known as nodes that uphold a public ledger. The core philosophy of Dogecoin is summarized in the "Dogecoin Manifesto," which boasts a vibrant community made up of friendly people.

Important news about DOGE recently:

1️⃣ High leverage trading triggers large liquidations Recently, multiple traders' DOGE high-leverage long positions faced liquidation. Among them, one trader using 10x leverage on a DOGE long position was completely liquidated, suffering a loss of up to $22,627. Another well-known trader, James Wynn, also faced partial liquidation of his 10x leverage DOGE long position and currently still holds a DOGE long position worth $143,000. These large liquidation events reflect the current high volatility and high risk in the DOGE market.

2️⃣ Expansion of DOGE Mining Business Thumzup Media Corporation has acquired the DOGE mining company Dogehash Technologies, which will drive the expansion of DOGE mining scale. Dogehash currently has about 2,500 Scrypt ASIC miners in North America and is expected to deploy more equipment later this year. This acquisition may increase the supply of DOGE, while also reflecting institutional confidence in the DOGE mining business. After the acquisition is completed, Dogehash will trade on the NASDAQ stock market under the new ticker symbol "XDOG".

3️⃣ Market performance continues to fall The price of DOGE has continued to fall over the past two days. On August 25, DOGE fell by 3.74%, with a market capitalization reduction of approximately $1.339 billion. In the latest day, DOGE further declined by 8.08%, with the market capitalization decreasing by about $2.760 billion compared to the previous day. This continuous downward trend reflects the current weakness in the DOGE market, and investor sentiment may be influenced by multiple factors.

From a technical perspective, the current price of DOGE has fallen to $0.21, reaching a recent low. Considering the ongoing downward trend in the market and the risks associated with high-leverage trading, investors should closely monitor subsequent price movements and changes in market sentiment, carefully evaluating their investment decisions.

This message does not constitute investment advice, and investors should be aware of market volatility risks.