Is Dogecoin Headed Towards a Significant Decline? Analysis Reveals Risk Factors

Dogecoin’s 50-period moving average shows an ongoing downtrend on both the 4-hour and daily charts. This bearish trend, coupled with Bitcoin’s struggle below $100,000, has raised concerns about potential price drops to $0.10. A sustained drop could see a notable 37% decline from its current level of around $0.17. Analysts are closely observing the situation, with several expressing caution due to limited buying interest below the $0.16 support level.