Dogecoin

Shiba Inu

Elon Musk

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<p dir="ltr">The broader digital currency ecosystem is facing a cautionary trend as the prices of top altcoins like Dogecoin (DOGE) take a breather. With Bitcoin (BTC)<a href="https://u.today/bitcoin-hits-record-highs-approaches-94k" rel="noopener noreferrer nofollow">soaring</a> to a new all-time high (ATH) above $94,000 earlier, most altcoins raced along, but investors are now taking a profit. Dogecoin faces a sharp rejection while attempting to cross the $0.40 price.</p>
<h2 id="dogecoin-back-to-bounce">Dogecoin back to bounce</h2>
<p dir="ltr">Dogecoin is one of the most volatile digital currencies on the market today. At the time of writing, the coin was trading for $0.3928, up 2.63% in 24 hours,<a href="https://coinmarketcap.com/currencies/dogecoin/" rel="noopener noreferrer nofollow">according</a> to CoinMarketCap. This uptick is a product of its internal volatility as the meme coin traded in the red in the early morning hours.</p> <img src="https://u.today/sites/default/files/inline-images/DOGE_1D_graph_coinmarketcap%20%2815%29.jpeg" data-entity-uuid="3c374677-cf80-400a-938b-d87a9d5467df" data-entity-type="file" data-caption="<a href=&quot;https://coinmarketcap.com/currencies/dogecoin/&quot;>DOGE 1D Price Chart. Source: CoinMarketCap</a>">
<p dir="ltr">The coin still maintains a deep correlation with Bitcoin, and the current rejection at $0.40 might be the boost it needs to move forward. Dogecoin has stayed in the spotlight throughout this bull rally. Analysts<a href="https://u.today/is-1-doge-possible-top-trader-issues-bull-signal-for-dogecoin" rel="noopener noreferrer nofollow">projected</a> the possibility of reaching the $1 mark.</p>
<p dir="ltr">Elon Musk has recently helped to fan DOGE’s popularity, as the X owner occasionally makes reference to the coin. Despite the proven trend, most investors still base their adoption of Dogecoin on Musk's posts.</p>
<p dir="ltr">In the near term, Dogecoin will move above $0.40 to reclaim its 30-day high of $0.4358.</p>
<h2 id="meme-coin-season-remain-in-mild-swing">Meme coin season remain in mild swing</h2>
<p dir="ltr">The prices of most the meme coins are hovering close to their all-time highs (ATH). However, most of the tokens in this sector are facing intense rejections, proving how correlated they are to one another.</p>
<p dir="ltr">For instance, Shiba Inu (SHIB) is down by 1.62% to $0.00002457, and dogwifhat (WIF) has slumped by 2.59% to $3.351. PEPE has, however, maintained marginal growth, soaring by 0.69% in 24 hours to $0.00002038 amid an intense<a href="https://u.today/pepe-whale-inflow-skyrockets-4479-in-24-hours-whats-next" rel="noopener noreferrer nofollow">whale boost</a>.</p>
<p dir="ltr">While each of these altcoins has its ecosystem and fundamentals, they are all positioned to fuel a unique rally as the broader market looks up to Bitcoin.</p> <a href="https://u.today/dogecoin-doge-faces-rejection-at-crucial-price-point" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Dogecoin (DOGE) Faces Rejection at Crucial Price Point

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