Mounting worries about the fallout of crypto-focused US bank Silvergate Capital sent shockwaves through crypto markets. Bitcoin lost over 6.0% and briefly dropped below $22,000 as long liquidations hit highest level since August. Smaller projects followed in BTC footsteps and also recorded sharp declines. Dogecoin price plunged 9.0% and dropped below major support at $0.07725 which is marked with previous price reactions, 200 SMA (red line) and 78.6% Fibonacci retracement of the last upward wave. Currently buyers attempt to erase some losses, nevertheless as long as price sits below the aforementioned level, sell-off may deepen towards October 2022 lows at $0.0550. Additionally the Supply Distribution chart shows that the number of large investors, which own from 1 million to 10 million DOGE decreased significantly, which supports the bearish scenario.
Number of Doge large investors so called 'whales' has fallen sharply in recent days. Source: Santiment
DOGECOIN, D1 interval. Source: xStation5
Daily Summary: Markets Euphoric Following a Breakthrough in U.S.-Iran Relations
Bitcoin gains 3% ahead of the US PPI data
Morning Wrap: Risk appetite is back despite new exchange of US-Iran strikes (11.06.2026)
Bitcoin Looks Cheap, But Is This the Bottom? Crypto Markets Are Waiting for a Catalyst
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
