DOGE Price Analysis: The price of Dogecoin has fallen recently, reaching its lowest point since February this year. However, it appears to have found support and may be on the verge of a rebound.

Dogecoin may need to make key decisions in the near future, which will affect its future price movement.

Previously, DOGE price showed a huge descending triangle trend. While the bottom of the triangle provides strong support for DOGE, this support may become ineffective due to the overall bearish sentiment triggered by Bitcoin.

The sharp drop in the price of DOGE is just one sign that the Bitcoin market is collapsing. Cryptocurrency giant Bitcoin destroyed its key support level late on Monday, leading to a general decline across the digital currency market. According to data from CoinStats, the total market capitalization of the entire cryptocurrency industry fell by 3% in the past 24 hours.

Despite this data, Bitcoin’s Fear & Greed Index remains at 74 (showing greed), leaving the cryptocurrency community wondering whether this key market sentiment analysis tool is being manipulated.

Bitcoin’s market influence is significant, with its market capitalization share increasing from 51.5% to 52.1% last week, demonstrating its dominant position in the market.

Dogecoin investors pay close attention to the price movement of Bitcoin, as it directly affects their profits and losses.