Dogecoin’s price has decreased by 1.6% to $0.16, following a significant drop yesterday amid a general weakness in the cryptocurrency market. This decline is accompanied by bearish technical signals that have emerged across several timeframes, indicating potential further losses. The recent selloff reflects broader trends in the crypto market, where many digital currencies are experiencing downward pressure. Traders are observing the death cross pattern, a technical indicator that often signals a bearish trend, contributing to the selling momentum. As market participants react to these signals, Dogecoin’s performance continues to be influenced by both technical analysis and overall market sentiment.
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