Dogecoin, Cardano Face 11%, 9% Dips: Why is The Market Down?
The cryptocurrency market seems to be facing a major correction. Dogecoin (DOGE) and Cardano (ADA) have registered substantial price dips in the last 24 hours. Dogecoin’s (DOGE) price is down 11.9% in the daily charts, but has maintained gains in the other time frames, as highlighted by CoinGecko’s DOGE data. Source: CoinGecko ADA, on the other hand, is down 9.8% in the last 24 hours. Like DOGE, ADA is also in the green zone in the other time frames. Source: CoinGecko Why are Dogecoin, Cardano, and Other Cryptocurrencies Down Today? Source: CoinMarketCap The cryptocurrency market experienced one of its most significant rallies in recent times, earlier this month. Bitcoin (BTC), Binance’s BNB, and Ripple’s XRP hit new all-time highs amid a market-wide surge. The current dip could be due to investors booking profits after the recent upswing. According to CoinGlass data on BNB, almost $908.48 million was liquidated from the crypto market in the last 24 hours. Also R...