Dogecoin, the largest meme-coin by market capitalisation has bled for close to a week now. Prices of the coin have looked bearish in the last 24 hours and continued to look negative at press time. In the past week, Dogecoin lost 4.9% because of falling buying strength.
The bulls have stayed out of the charts since the beginning of this month. If the current price action persists, Dogecoin would aim for its nearest support line. Bears have taken control of the market as investors have continued to flee the market.
Compared to last year at the same time, Dogecoin has plummeted by 82% from its all-time high of $0.73. Not just investors, the Federal Open Market Committee’s meeting related to hiking interest rates has also