Dogecoin price continued its downtrend as most cryptocurrencies fell on Tuesday. DOGE is down almost 50% from this year's high. 📉

Since March, Dogecoin has been under pressure among meme traders focusing on new tokens such as Pepe, Dogwifhat, and Brett. During this time, traditional meme tokens such as DOGE, Shiba Inu, and Baby Doge underperformed their newer peers.

Due to Bitcoin's performance, Dogecoin also fell. Bitcoin, the world's largest cryptocurrency, remained in a tight range and attempted to break above the $72,000 resistance but failed.

Dogecoin's price will likely continue to fall with sellers targeting the $0.10 psychological level. A fall below this level would increase the possibility of a drop to the January low of $0.0750.