Dogecoin Price Could Fall to $0.2 Amid Market Correlation
Dogecoin (DOGE) is currently facing challenges in the market despite increased attention from investors tied to political developments. Key points include:
- The meme coin market cap has decreased by nearly 10% to around $93.5 billion.
- Analyst Ali Martinez noted a correlation between Dogecoin and Pepe, suggesting DOGE may follow PEPE's price trajectory.
- A potential decline of over 35% for DOGE could occur if this correlation holds, with critical support at $0.31 having been breached.
- If a similar pattern to PEPE unfolds, DOGE might drop to approximately $0.20 due to a lack of support.
- Currently, DOGE is priced at about $0.305, down more than 3% in the past 24 hours and nearly 12% over the last week.
Recent fluctuations show DOGE reached a local high of $0.46 in early December before falling to around $0.26.
