Dogecoin’s value fell over the weekend after a four-week bull run, sparking speculation about whether the rally will stop there. The pullback has many on social media wondering how sustainable the rally is, and whether the momentum that has supported its rise is starting to fade.
The price of the popular meme coin fell to $0.3431, after reaching a high of $0.4265, recording a decrease of about 19.55%. Click here for advertising services or press releases for the crypto project.
This decline can be linked to a general decline in interest among market participants. Social media engagement, a major driver of Dogecoin’s popularity and value, is starting to show signs of weakness.
However, some analysts believe that Dogecoin still has a lot of room to grow, especially with the indicators surrounding its popularity.