Dogecoin falls below $0.15, sellers take control: What to do with DOGE now?

Dogecoin [DOGE] and other memecoins have not been immune to the recent market downturn.

Dogecoin falls sharply: Analysis of the daily time frame chart of Dogecoin shows that Dogecoin had already started to fall before the overall market downturn.

The chart shows that DOGE's decline began around June 7, with a drop of more than 7%. The drop took its price from about $0.16 to $0.148. At the end of trading on June 10, DOGE was trading at around $0.144, down about 1.4%.

As of the time of writing, it is trading at around $0.141, having fallen by more than 2%.  

Dogecoin price trend: The drop of more than 7% on June 7 caused its price to fall below the short-term moving average (yellow line) and below the neutral line of the relative strength index (RSI), indicating a bearish trend. As of the time of writing, Dogecoin is still trending below the yellow line, which currently acts as a resistance around the $0.15 price range. Moreover, the RSI is below 40, indicating a strong bear trend.

The price decline has also had a negative impact on its market cap.

Dogecoin’s market cap declines: Before the drop of more than 7%, DOGE’s market cap was over $23 billion, but after the drop, the market cap dropped to around $21 billion. In the previous trading day, the memecoin’s market cap was still around $20.9 billion. However, the recent drop has pushed the market cap down to around $20.5 billion. Despite the decline, it still remains the largest memecoin.  Furthermore, its trading volume has increased significantly over the past 24 hours. #狗狗币崛起 #DOGE等待期ETF #REMEN