Dogecoin Plummets 25%, Losing $57 Million in Market Capital – Will it Bounce Back?

Dogecoin (DOGE), the internet-favorite meme cryptocurrency, has experienced a sharp decline of 25% in value, dropping below $0.19 after losing crucial support levels. This drop coincided with an outflow of nearly $57 million in investments, prompting concerns about investor confidence and short-term market recovery prospects. The reasons behind this sudden crash include: technical pressure building as DOGE struggles to maintain momentum and a decrease in retail trading activity that may have triggered the selling wave.