 ▲ Dogecoin (DOGE) ©Coin Leaders |
The original meme cryptocurrency Dogecoin (DOGE) has fallen more than 12% over the past week, threatening the $0.14 level.
This is interpreted as a result of Bitcoin (BTC), a leading stock that was hovering above the $71,000 level, falling to the $66,000 level due to concerns over weakening investor sentiment and macroeconomic conditions.
Dogecoin has usually been shown to synchronize with the price of Bitcoin.
Into the Block, a cryptocurrency market data platform, said through “If DOGE rises, it may face resistance at the $0.16 level, and approximately 20 billion DOGE is currently in loss,” he said.
Meanwhile, anonymous cryptocurrency trader Altcoin Sherpa told his 217,100 followers on social media platform
He predicted that Dogecoin would rise significantly at the end of this year, predicting that "it may trade in the range of $0.12 at the lower limit and $0.17 at the upper limit before the surge."
Anonymous crypto trader Kaleo also recently told his 641,400 followers on X that Dogecoin could surge more than 220% from its current value.
He said, “The secret of Dogecoin is that it shows a rapid vertical rise after a long period of sideways movement. I am bullish on Bitcoin, but I am very confident that Dogecoin will outperform Bitcoin. We are now in the 'Meme Super Cycle'. “The king of memes will not be left behind,” he predicted.
As of 8:19 a.m. on this day, according to CoinMarketCap data, the price of Dogecoin, the 8th largest cryptocurrency by market capitalization, was $0.1409, down 12.30% from a week ago.
