Dogecoin Price: Amid the pre-halving correction in the crypto market, the Bitcoin price plunged to a low of $59672 on Wednesday registering a loss of 4.5%. This steady supply pressure prolongs the correction trend for the majority of major altcoins including Dogecoin. With an intraday loss of 5%, the largest meme cryptocurrency by market cap loses the 50% retracement support, indicating the potential for prolonged downfall.
Also Read: Why Investors Are Dogging Dogecoin (DOGE) and Combating 10.7% Drop with New A.I Cryptocurrency Presale Token
Will Dogecoin Price Lose $0.14 Amid Market Correction?
Dogecoin Price| Tradingview
Dogecoin entered the current correction trend in late March, as the price reverted from the high of $0.288. The bearish downturn plunged the coin value 35% within three weeks to the current trade at $0.14.
The formation of new lower highs and lows signals a change in market sentiment from “buying on dip” to “selling on rallies”. The downsloping trendline in t
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