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Dogecoin (DOGE) turned down from $0.29 on Nov. 8, indicating selling on rallies. The price has dipped back to the 20-day EMA ($0.26), which is an important support to keep an eye on.
If this type of extreme drop bothers you, you may have too much riding on your crypto investments. You should only invest what you’re OK losing. But even if the drop is making you rethink your crypto allocations, the same advice still stands — don’t act rashly or upend your strategy too quickly. Reconsider what you might be more comfortable with going forward, such as allocating less to crypto in the future or diversifying through crypto-related stocks and blockchain funds rather than directly buying crypto (though you should still expect volatility when cryptocurrency markets fluctuate).
The breach occurred on November 3 when an “unauthorized third party” gained access to information from a number of users.
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While fluctuations are expected, Noble says this swing is a bit out of the ordinary. “I thought the market was maturing and these things would be less frequent and severe. Boy was I wrong,” he says.
After that, five percent of the tax is then allocated to people who still own SafeMoon currency. This is to prevent the price from dropping as people start selling the token.
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Dogecoin, at the time of writing, has a market price of close to $0.216 according to CoinMarketCap - the result of an 8,325.23% increase in value since the start of 2021.
SafeMoon stands from "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price flying upwards "as high as the Moon".
Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
Binance, the original platform, despite its many outages in recent months, stands out from its U.S. counterpart. The range of cryptocurrencies, features, and ease of use far out does Binance.US. Many hope that the number of faults and outages will reduce going forward.