DOGE has recently plunged 14.21% and is currently trading at $0.38965.
It previously hit a 24-hour high of $0.45457 and tested a low of $0.38000.
The significant decline points to intensifying selling pressure, with the price now hovering near the key support at $0.38000.
If DOGE fails to hold this support, a further decline to $0.37500 is possible.
However, a rebound from this area could see the price move back towards $0.40800 or higher.
The current trading volume has exceeded 6.1 billion, and the market is highly volatile, providing opportunities for short-term profits.
Traders should focus on key price levels and set strict stops to capture short-term market fluctuations.
