Dogecoin Daily: Is Now The Time To Drown Sorrows With DOGE Vodka or Be 'Hangry?'

Dogecoin DOGE/USD traded 2.2% lower at $0.6 over 24 hours leading up to early Tuesday morning.

DOGE dropped lower along with other major coins amid a market-wide rout that extended until press time.

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The DOGE Factors

• The 24-hour DOGE volume rose 49.8% to $1.45 billion, according to CoinMarketCap data.
• Coinglass data indicated that $4.67 million worth of DOGE were liquidated over 24 hours as the price of the meme coin declined.
• DOGE was in “oversold” territory as its relative strength index hovered around 26.61, according to Trading View.

Liquidity, Celsius Weigh On Crypto Market

Dogecoin crashed along with two of the largest coins by market cap on Monday evening as investors awaited the outcome of a 2-day policy meeting of the U.S. Federal Reserve — slated to commence Tuesday. Cryptos were under pressure due to mounting insolvency fears surrounding Celsius (CEL), a large cryptocurrency lender.

Fear Grips DOGE Investors

DOGE’s decline on Monday was defined by large volumes, which is an indication that fear gripped investors. As the crypto runs out of sellers in the next few days, traders can look out for chart patterns to signal future price action with continuation to the downside as a likely scenario, according to Benzinga’s Melanie Schaffer.

DOGE has resistance above $0.065 and $0.083 and has support below the 5-cent market and at 4 cents, according to Schaffer.

Such Jerseys, Much Wow!

The Big3 basketball team Aliens, part of the league co-founded by rapper Ice Cube, unveiled jerseys featuring the DOGE logo recently. Dogecoin’s official Twitter handle shared the new uniforms on Monday.

Crypto Meltdown  Reactions

Dogecoin millionaire Glauber Contessoto wants to drown his sorrows in DOGE vodka and forget that Monday’s cryptocurrency wipeout took place. 

DOGE co-creator Billy Markus said he is “hangry” due to a mix of intermittent fasting and losing all his money and reading about the “idiocy” that led to him losing his funds. 

Earlier Markus derided Terra (LUNA) and Celsius (CEL) projects and said they were “ready to collapse” the entire market. 

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