Dogecoin Slides 5% To Stretch Losing Streak, But This Analyst Says Memecoin ‘Still In A Bull Cycle’

Dogecoin (CRYPTO: DOGE) sank alongside the broader cryptocurrency market Thursday as investors moved away from speculative assets in response to macroeconomic uncertainties.

DOGE Extends Decline

The world’s largest meme coin by market capitalization fell over 5% in the last 24 hours, exceeding the declines seen in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH).

The coin’s trading volume surged 23% in the 24-hour period, suggesting high selling pressure. The latest dip extended DOGE’s losing streak, with the token shedding nearly 20% in a week. The

Speculative interest in the coin waned, with open interest in DOGE futures dropping 4.53% …

Full story available on Benzinga.com