$DOGE Dogecoin Faces Sharp Decline in Market Value

Dogecoin recently saw a significant price drop.

Trading activity increased despite the decline.

Overall market trend reflects a downturn.

Data from Santiment on DOGE

DOGE‘s market activities’ downward trend, as highlighted by Santiment’s data, coincides with a noticeable decrease in social media interest. Social volume has consistently decreased, indicating a reduction in interactions and discussions concerning this cryptocurrency. Since the end of March, its social dominance has also significantly dropped. This situation indicates a decrease in public curiosity. Although this trend is currently evident, short-term price movements could shift attention back to DOGE.

If Dogecoin’s value remains above $0.14, there are increasing expectations that this could lead to further gains. This stability could pave the way for an upward movement towards the $0.8 level, potentially opening the door to the $1.00 level in the foreseeable future. On the other hand, increasing downward trends could push Dogecoin back to the $0.14 support level. Ongoing downward trends could further reduce its value, potentially dropping to $0.11 in the coming weeks.