The cryptocurrency market has been experiencing considerable volatility, with DOGE, in particular, attracting significant attention. Over the past 24 hours, the market saw a marginal decline of 0.51%, while DOGE's weekly performance paints a more alarming picture, showing a substantial loss of 11.45%. As investors grapple with these fluctuations, the question on everyone's mind is whether DOGE will experience another crash, potentially plummeting to $0.10.
DOGE Price Today: Dogecoin Analysis
Analyzing DOGE's performance reveals a tumultuous journey over the past week. Despite its slight decline in the last 24 hours, DOGE remains an active player in the market, with a traded volume of $592 million. However, its significant weekly loss underscores the challenges it faces amidst the current market dynamics. This is clear as we can clearly see a downtrend that started as soon as DOGE prices hit the year-high price of $0.22.
DOGE/USD 1-day chart - TradingView
Why is Dogecoin Price Down?
DOGE's recent downturn can be attributed to broader market trends, with many cryptocurrencies, including DOGE, succumbing to selling pressure. Bitcoin's failure to breach its all-time high has cast a shadow over the entire market, triggering a corrective phase. Consequently, DOGE has retreated from its recent highs, settling at its current price of $0.1430.
DOGE Price Prediction: Will DOGE Crash to $0.10?
As DOGE hovers around the $0.140 mark, investors are closely monitoring its next move. This critical level has been tested in recent weeks, reflecting the intense tug-of-war between buyers and sellers. Should DOGE breach this level, it may pave the way for a further decline towards targets of $0.13 and $0.12.
However, upwards trends can propel DOGE prices higher towards the following targets:
- $0.16
- $0.18
- $0.20
DOGE/USD 1-day chart - TradingView
