Dogecoin had a massive breakout early in March after the Bitcoin rally (BTC). DOGE entered top 10 cryptocurrency by market capital while BTC reached a record high.
The march momentum is fading. DOGE experienced significant price drops over the last couple of days. Dogcoin has dropped by more than 26 percent in comparison to the last month.
Also Read: Are Investors Giving up on Dogecoin & Shiba Inu Amidst Major Drop?
DOGE is most likely experiencing a new decline due to Bitcoin dropping below $64,000. Original crypto fell by 3.7% over the past 24 hours, and 4.8% during the previous week. BTC’s fall is most likely due to miners caving in. This week, the price to mine one BTC exceeded $86,000. The result has led to miners selling off their assets.
Can Dogecoin be recovered this weekend?
Researchers CoinCodex Predict BTC will regain the $69,000 mark this Sunday, 23 June 2024. BTC’s rebound could lead to other assets following its path. Platform does not portray a similar image for DOGE. CoinCodex analysis shows that DOGE’s price could drop to $0.1241 in 2024. That would represent a fall of 0.16%.
Also Read: Cardano Founder Says Elon Musk May Hold 20% of Dogecoin Supply
Changelly Dogecoin will also likely see its price drop over the coming days to $0.10 before early July.
Crypto analysis company Santiment has released a report. “Crowd sentiment has dropped significantly” For DOGE. FOMO, according to the platform, is also at its lowest level this year.
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Source: watcher.guru
