Crypto Chaos: Dogecoin Dives and Cardano Crashes — Who Got Rich? No One! 😂

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It seems the mighty crypto markets are once again trembling under the weight of some vague, ominous cloud—a sort of economic fog that’s as helpful as a wet blanket at a picnic. Inflation whispers sweet nothings, and rate uncertainties swirl about like a bad tattoo—permanent and regrettable.

Just yesterday, a staggering $613 million in leveraged positions evaporated into the ether, leaving traders scratching their heads—probably wondering if they should’ve just bought a cow. CoinGlass reports that the lion’s share of this liquidated chaos came from longs, which is a fancy way of saying folks bet big and lost bigger. 🐂➡️💧

In the past week, Bitcoin and Ethereum cavorted downward—dipping 3.7% and 7.13%, respectively. Dogecoin, the meme that thought it was a real currency, took an 18% nosedive—probably because everyone finally remembered it’s just a silly joke with some tail wagging behind it. As for Cardano, that slow-moving turtle of crypto, it dropped to $0.7126—a loss of 13.55%. Solana isn’t feeling too peppy either, down 13.06%. Traders keep piling into leveraged bets, as if that’s going to turn the tide—spoiler: it probably won’t. 😅

Dogecoin (DOGE) price action

Dogecoin now whispers at $0.199, slipping 2.66% in the last 24 hours. The bears, in their usual style, sold near the July 21 peak of $0.287, dragging poor DOGE toward the daily SMA 50 support at $0.194. Looks like Dogecoin might dance within the range of $0.14 to $0.29—because why not make investing as predictable as the weather? Its RSI is just shy of the middle ground, so maybe it’s just tired.

If the 50-day SMA at $0.194 holds, the bulls might rally, pushing the price above $0.22 and maybe even all the way back to $0.287—at which point, everyone can have a good laugh at the irony. But if it breaks below that support? Well, the drop to $0.14 could be faster than a cat chasing a laser. 🙀

Cardano (ADA) price action

Cardano, the slowpoke of the lot, hit a high of $0.935 on July 21—probably dreaming of a bright future—and then fell to $0.695, a sad descent that hints the bulls are losing their grip. It’s now hovering near the $0.68 mark, having wiped out the gains from a swift climb and now grooving along with the 50-day SMA. The market’s so indecisive it makes a weathervane look confident.

Both moving averages are flattening as if they’ve decided to take a nap, and the RSI suggests the market’s just playing it safe—boring, really. If ADA bounces from $0.68, it might face some selling pressure at $0.8—because everyone wants another chance to lose money. And if it drops below that, brace for the fall to $0.56, then maybe even $0.50, because apparently, patience is a virtue most traders forgot about. 🤷‍♂️

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2025-08-02 16:59