The market for Dogecoin is contracting, with a 25% decline in value over the past three days. The broader market is still recovering from Bitcoin's crash, causing around $787 million in losses through liquidations of digital assets. Dogecoin, often seen as a joke coin, has been hit hard, with approximately $29 million in liquidations recorded recently. The recent drop in value can be attributed to macroeconomic issues and the Federal Reserve's concern about interest rate cuts. Dogecoin is approaching critical support levels, and some analysts speculate it could fall below $0.20. However, market watchers still have high expectations for Dogecoin's future, and some believe that it could rally if it maintains a weekly closing above $0.26. Traders are closely monitoring the key support levels and the oversold condition of Dogecoin according to the Relative Strength Index (RSI). The market's extreme volatility is evident from the wave of liquidations. As Dogecoin faces a difficult crypto climate, many traders are watching to see how low it could fall before finding solid ground.



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