Cryptocurrency Market Volatility: Dogecoin Surges Amid Industry Shifts

The cryptocurrency market has been experiencing significant fluctuations in recent times. One notable example is Dogecoin, which has seen a double-digit surge in its price. According to on-chain data, nearly half of the circulating Bitcoin supply was acquired at prices higher than the current market value, suggesting that many investors are now holding onto their coins at a loss.

This trend is particularly evident in the wake of recent recovery attempts by the market. Every time the price has attempted to recover, it has been met with increased selling pressure, resulting in further losses for holders.