Dogecoin breached the $0.085 support and fell to a low of $0.081.
Dogecoin continues its downward trajectory on Thursday, trading beneath the $0.0850 threshold for the fourth straight session. The popular meme coin has been unable to reclaim the $0.09 mark as investor enthusiasm wanes.
SpaceX (NASDAQ:SPCX) has surged 50% since its June 12 IPO to $201.80 while Dogecoin (CRYPTO: DOGE) is trading flat, exposing the clearest evidence yet that the Elon Musk effect on DOGE is dead. SPCX Has Real Revenue, DOGE Has Tweets SpaceX priced at $135, opened at $150, and hit an all-time high of $225.64 on June 16.
Cryptocurrency analyst Ali Martinez said on Tuesday that Dogecoin (CRYPTO: DOGE) may continue its upward trend, provided it does not lose key support levels. Will DOGE Sustain The Rally?
Dogecoin trades near $0.088 as traders watch $0.087 support, $0.095 resistance, rising open interest, weak monthly momentum and $0.10 level.
Dogecoin shows weekly bullish divergence while traders watch whether DOGE holds its range or retests lower support.
Dogecoin currently trades at a critical technical juncture that has captured the attention of numerous market analysts. The meme coin is exchanging hands near $0.087, recording a 24-hour trading volume of $465.9 million alongside a market capitalization of $13.34 billion.
Dogecoin started a fresh increase from the $0.0850 zone against the US Dollar. DOGE is now facing hurdles near $0.090 and might aim for a larger rally.
Analysts track a recurring technical pattern as Dogecoin gains support from whale accumulation, ETF exposure, and renewed market interest.
Dogecoin rebounds after a TD Sequential buy signal as analysts watch a long-term bullish pennant breakout setup.
Dogecoin jumped nearly 6% after SpaceX's spectacular debut on the Nasdaq. In a crypto market always sensitive to narratives, Elon Musk's return to the spotlight was enough to awaken demand around DOGE.
Dogecoin has begun to trade on the positive side of the market following a bullish trend in its derivatives market which signals rising optimism among traders.