Dogecoin Price Unaffected by Elon Musk’s Latest Shiba Inu Post

Elon Musk's recent post featuring a Shiba Inu, Dogecoin's mascot, did not trigger the usual price surge for Dogecoin (DOGE), as seen in the past. The lack of price movement coincides with a broader crypto market downturn, contributing to bearish sentiment.

Market Analysis

DOGE is struggling below the $0.2 level amid bear market concerns.
Bitcoin and other altcoins have also seen declines.
Speculation persists that DOGE could become a payment option on Elon Musk's upcoming X Money platform, which may increase its utility.

Price Predictions

Crypto analyst CryptoCeek suggests DOGE might decline towards $0.14, risking a further drop to $0.10 if it breaks below.
A recovery above the 20-day EMA could push DOGE back to $0.21.
Analyst Ali Martinez warns of a potential drop to $0.07 if DOGE falls below $0.16, where support weakens.

Dogecoin

Currently, DOGE trades at $0.16, reflecting a decrease over the past 24 hours.