August Starts Hot: Dogecoin Spot Flows Up 116%, Is DOGE Rally Next?
Dogecoin spot flows rose 116% in the last 24 hours, according to Coinglass data, as the crypto market saw selling at Julys close. Dogecoin fell to a low of $0.068, closing July 31 with a loss of 1.42%. The profit-taking was reflected in the positive spot net flow, which rose 116%. In the last 24 hours, Dogecoin saw spot inflows of $30.83 million while spot outflows amounted to $30.27 million, yielding a positive spot netflow of $558,210, an increase of 116.32%. An increase in spot inflow might suggest coins being moved to spot exchanges, possibly to sell, while outflows might suggest withdrawals, which is indicative of buying. Dogecoin (DOGE), Zcash (ZEC), Cardano (ADA) and Solana (SOL) Price Analysis For August 1: Outsiders Enter the Stage Democrats Hate Crypto More Than Oil Companies and Data Centers, Poll Shows Cryptocurrencies including Dogecoin closed out July on the back foot. Hawkish comments from the Federal Reserve committee dulled cryptos recovery hopes, with Dogecoin closing July with a loss of 28.25% to mark its second red month since April. You Might Also Like As the market stays uncertain, the taker long-short futures market volume ratio continues to be bearish, indicating a downside bias. Whats next? Dogecoin is showing mild signs of recovery on