Dogecoin’s market activity surged with $380 million worth of trades, mirroring the pullback seen in Bitcoin’s performance. This wave of trading follows a broader cryptocurrency market downturn, with DOGE’s price falling in tandem with Bitcoin’s dip below key support levels. Traders are speculating on the token’s short-term trajectory, as heightened trading volumes hint at growing uncertainty among investors.
Source – FXStreet
The decline has placed Dogecoin’s recent bullish momentum in question, with analysts pointing to a lack of sustained demand at higher price levels. While Bitcoin often sets the tone for the crypto market, Dogecoin’s correlation raises concerns about its resilience during broader market corrections. For now, the focus remains on whether trading volumes can stabilize and offer price recovery prospects.
