Dogecoin, the largest meme coin by market cap, continues its recovery journey in the past 30 days despite slow progress.
Dogecoin Liquidations Slow Down
According to CoinGlass data, Dogecoin has shown a reduction in liquidation activity in recent days. Total liquidations were just over $3 million in the last 24 hours, notably lower than in previous months, indicating market stabilization.
Decline in Trading Volume and Its Impact
CoinMarketCap data shows Dogecoin's price currently at $0.1690, an increase of 0.87% over the last day. However, trading volume has dropped by 24.87% to $648.6 million, slowing its recovery pace.
Future Outlook for Dogecoin
Although Dogecoin continues its sideways movement, bearish market pressure may hinder its quick rise. Observers note that the decline in liquidations could signal that the worst might be over for the meme coin.
Despite the decline in trading volumes and slow recovery, Dogecoin may have already overcome the most challenging times and is poised for future growth.
