Dogecoin’s explosive growth began in March, following the Bitcoin (BTC), rally. DOGE, which entered the top 10 cryptocurrency market caps by value while BTC was at a new high.
The momentum of March seems to have died down. 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 is also likely to be declining because miners have capitulated. Earlier this week, the price for mining one BTC surpassed $86,000. As a result, miners began to sell their BTC holdings.
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. DOGE is not portrayed in the same light by this platform. CoinCodex analysis shows that DOGE’s price could drop to $0.1241 in 2024. That would represent a 0.16% decline from the current value.
Also Read: Cardano Founder Says Elon Musk May Hold 20% of Dogecoin Supply
Changelly Dogecoin price is also expected to fall over time. next In a few short days, the price will drop to $0.10 at early July.
Santiment Crypto Analysis Firm “Crowd sentiment has dropped significantly” The platform also says that FOMO is at its lowest this year. FOMO, according to the platform, is also at its lowest level this year.
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Source: watcher.guru