Why Dogecoin (DOGE) is not growing
Let's find out what factors are holding back the strengthening of Dogecoin (DOGE), despite the general rally of altcoins
The value of Dogecoin (DOGE) is under pressure from several unfavorable factors: lower intraday demand and negative sentiment continue to haunt the coin.
Dogecoin is in the crosshairs of sellers
The price of the memcoin rose to a local high of $0.17 (May 26), but then pulled back from it. This drawdown is due to a drop in demand for the token during this period. The intraday number of addresses making transactions with DOGE decreased by 9%. The daily number of unique transactions decreased by 5%.
Investors are generally negative about DOGE, leading to a decline in the number of active addresses on the network. Pessimism followed the asset throughout most of the month. At the time of publication this indicator was -0.71. The negative value indicates the prevalence of negative comments about memcoin in social networks.
