Dogecoin Price Dips to $0.259 after 8.4% Drop – Where to Sell or Buy DOGE

DOGE has been dropping massively, and not even Elon Musk can save the token. The coin has lost 8.4% in the past 24 hours, starting yet another week in the bearish zone. Some analysts have predicted that Musk’s tweets may not save the meme coin this time, as it is headed to a sharp correction. At the time of writing, DOGE was trading at $0.259.

DOGE Price Analysis

DOGE is currently testing its support of $0.25. The price of the meme coin is currently bearish after falling below the $0.26 mark. If there is any buying support or support from the broader crypto market, the price of Musk’s favourite coin may retest a higher resistance of $0.28.

At the $0.28 level, investors may purchase to go short because of the likelihood of a price rejection on the upside. On the other hand, if DOGE breaks resistance, it will move further to the upside to reach $0.30. This new high will push DOGE even lower as it triggers a massive selloff since signals still indicate the market is overall bearish.

The price of dogecoin has dropped by over 70% since May. However, the token picked up towards the end of May and picked from the $0.21 mark to $0.44. However, the price failed to hold and the meme coin retraced to previous low levels. However, a boost was gained at the beginning of June, attributed to Coinbase’s listing, and DOGE moved higher from $0.30. The surge was interrupted on June 18.

With what we have seen happen with DOGE, it means that the current price of the token will only move high if there is any support from the entire crypto market. It remains to be seen whether Musk will attempt to tweet about the token to salvage it, as he has done in the past.

Interestingly, the DOGE community wished Elon Musk a Happy Father’s Day on June 20 for being the Dogefather. However, Musk is yet to respond with a tweet that doge holders eagerly await to push the meme coin’s price past its current support.

Happy Father’s Day to the Dogefather pic.twitter.com/EmtrKGC660

— The Chairman (@WSBChairman) June 20, 2021

Over the weekend, dogecoin re-entered the sports world by sponsoring a NASCAR racer. However, things did not go well for the dogecoin-sponsored Chevrolet as it crashed during the race. The crash was quite symbolic to reflect the price crash of the meme coin.

Where to Sell Dogecoin

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