Dogecoin Drops 12% In A Day: What Is Going On?
Posted On November 26, 2024
Dogecoin (CRYPTO: DOGE) is down 11.5% over the past 24 hours, yet traders remain optimistic about its long-term prospects.
What Happened: Despite ‘Dogecoin superfan’ Elon Musk on Monday humorously tweeting that “DOGE is inevitable,” the apex meme coin has found itself at the receiving end of a market correction.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin (CRYPTO: DOGE) | $0.3785 | $55.6 Billion | -11.2% | -2% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002404 | $14.2 Billion | -7.5% | -4.9% |
| Pepe (CRYPTO: PEPE) | $0.00001808 | $7.6 Billion | -10.6% | -11.2% |
Trader Notes: Crypto trader Kevin highlighted that during Dogecoin’s previous bull market, DOGE maintained support above the 50-day moving average through multiple tests.
Currently, this moving average stands at $0.22 and is trending upward with …
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