CandleFocus Reduced Leverage Drags Altcoin Trading: Meme Tokens Bear the Brunt
2024-12-14
Author: Content Editor
This news article highlights a decline in the open interest-to-market cap ratio for altcoins, indicating reduced leverage and trading activity in the altcoin market. Meme tokens, including Bonk (BONK), Dogwifhat (WIF), PEPE, and Dogecoin (DOGE), saw significant declines in their market metrics. Bonk (BONK) experienced a 2.81% price drop, while Dogwifhat (WIF) had a sharper decline of 5.83%. PEPE token displayed a milder 1.02% decline, while Dogecoin (DOGE) had a 1.90% decline. The article provides key resistance and support levels for each token, highlighting potential price movements. It is important to note that this article does not constitute financial advice.
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