Today, Dogecoin (DOGE), a popular cryptocurrency known for its dog meme, dropped more than 10%. As of 12:42 PM IST, it was trading at $0.342, down from the previous day’s close. This drop is part of a bigger trend where many cryptocurrencies are struggling right now.
Recently, Dogecoin had shown some strong performance, staying between $0.31 and $0.41 since January. Experts think this decrease might just be a short-term dip. If Dogecoin can go above certain price points ($0.3650 and $0.3680), it could bounce back towards $0.40.
Even though Dogecoin is falling, people are still interested in it. Avinash Shekhar, Co-Founder & CEO of Pi42, mentioned that despite the ups and downs, there is hope Dogecoin could hit new highs one day. However, it’s important to be careful and do your research since it’s easy to lose money in this unpredictable market. In just 24 hours, around $65 million was lost by Dogecoin traders, showing the risks of trading in meme coins, which can change value quickly.
Other cryptocurrencies like Solana, BNB, XRP, and Shiba Inu also saw declines today—some by up to 4.36%. Newer coins like OFFICIAL TRUMP and Melania Coin fell hard as well, with drops of 44% and 62%, respectively.
As Dogecoin continues to get attention from both beginner and experienced investors, its future is unclear. While some think it has great potential, others warn to be cautious because the market can be unpredictable.
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