The price of Dogecoin (DOGE) has dropped nearly 20% over the past month, falling to around $0.1009 currently. A major contributing factor has been its very strong positive correlation of 0.97 with Bitcoin, which has also experienced downward pressure recently.
Technical indicators for Dogecoin (DOGEl, such as moving averages and the MACD, are flashing sell signals. Analyst projections foresee additional depreciation, with some predicting Dogecoin (DOGE) could trade around $0.082 in the coming weeks.
