Will DOGE Price Crash to 1 cent?
The post Will DOGE Price Crash to 1 cent? appeared on BitcoinEthereumNews.com.
The cryptocurrency market is facing yet another bearish momentum, with most digital assets losing over 2% in the past day alone. Dogecoin ($DOGE), the popular meme coin, has been hit especially hard, dropping by more than 6% within the last 24 hours. As the market sentiment remains gloomy, traders and investors are left wondering: where is Dogecoin headed next? Why is Dogecoin’s Price Down? Several factors have contributed to the decline in Dogecoin’s price, all tied to broader market forces and macroeconomic events: Weak US Data and Rising Trade War Tensions: Ongoing geopolitical tensions, fueled by President Donald Trump’s aggressive stance on import taxes targeting countries like Canada and parts of Europe, are rattling global markets and sparking concerns about economic instability, prompting investors to liquidate their crypto holdings in favor of safer assets. Heavy Sell-Off Across the Crypto Market: The bearish sentiment has led to a broad sell-off in the market, impacting major and minor cryptocurrencies alike. Dogecoin, being a meme coin with less inherent utility compared to some other tokens, has suffered more significantly in this environment. As these factors weigh on the market, Dogecoin has seen its value erode, with signs pointing to further declines unless a strong reversal occurs soon. —> Click here to Trade Dogecoin with Bitget <— Dogecoin Technical Analysis Short-Term (Hourly Chart): The hourly chart for Dogecoin remains firmly bearish. Without a bounce back by the end of the day, DOGE risks breaking a critical support level. A support level breakout could see Dogecoin falling further, potentially targeting the $0.16 area. DOGE/USD 1-hour chart – TradingView Long-Term (Daily Chart): On a broader time frame, Dogecoin’s price is retreating after yesterday’s bearish closure. The overall trend remains down, as weak market signals and bearish momentum dominate. DOGE/USD 1-hour chart – TradingView —> Click here…
Filed under: News - @ March 29, 2025 8:26 pm