In accordance with Coindesk, Dogecoin slipped under the $0.13 level on Tuesday as heavy spot selling coincided with a sharp jump in derivatives activity. BitMEX reported Dogecoin futures volume surged 53,000% to $260 million, indicating rising volatility expectations. The price dropped through the $0.13 psychological floor amid a selloff, with volume hitting 639 million tokens at 16:00 on Dec. 23, surpassing the session average by 101%. Traders are positioning for wider swings rather than an immediate rebound, with the $0.13 level now a key focus for potential short-covering or further declines.
Dogecoin Falls Below $0.13 as Derivatives Volume Surges 53,000%
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Summary
Dogecoin fell below $0.13 on Tuesday as trading volume spiked and derivatives activity surged. BitMEX reported Dogecoin futures volume jumped 53,000% to $260 million, signaling higher volatility. Transaction volume hit 639 million tokens at 16:00 on Dec. 23, 101% above the session average. The $0.13 level is now a key focus for traders, with positions skewed toward larger swings rather than a quick rebound.
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