The crypto market is experiencing a rapid decline, causing Dogecoin to drop 6.47% and reach a market cap of $50.39 billion. The coin's price has dropped by 21.57% from a 7-day high, breaching key support levels. However, there are indications of a potential reversal, with the RSI line nearing the oversold zone and bullish struggle to absorb supply pressure. The upcoming support zone at $0.3303 will be crucial for Dogecoin's price trajectory. Despite the price drop, there has been a surge in whale transactions on the Dogecoin network, indicating network growth. If the broader market stabilizes and selling pressure reduces, there is a possibility of a Dogecoin reversal. If buyers regain momentum at the 38.20% Fibonacci level, the price could climb back to the $0.37772 level, but if the bearish trend continues, the next key level to test would be the psychological support at $0.30.



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