June 3, 2023

Is ‘Extreme Fear’ Gripping Dogecoin Today? – Dogecoin – United States Dollar ($DOGE)

Dogecoin (CRYPTO: DOGE) traded 2.2% lower at $0.15 over 24 hours leading up to early Friday morning.

What’s Moving? The meme cryptocurrency has plunged 10.7% over a seven-day trailing period.

Against Bitcoin (BTC) and Ethereum (ETH), DOGE rose 1.25% and 5.75% respectively, over 24 hours.

Over a 30-day window, DOGE has fallen 14.3%, while over the last 90 days it has declined 37.6%. Since 2022 began, it has dropped 11.23%. DOGE hit an all-time high of $0.74 in May 2021.

See Also: How To Buy Dogecoin (DOGE)

Why Is It Moving? DOGE fell in tandem with other major coins as the global cryptocurrency market cap fell 4.1% to $1.97 trillion.

DOGE was not included in the 10 most mentioned cryptocurrencies on Twitter, as per Cointrendz data.

A sentiment of “Extreme Fear” led to a plunge in cryptocurrencies on Thursday night. The FOMC minutes released a day prior triggered the sell-off which was exacerbated by liquidations. Positions worth $850 million were liquidated on Wednesday, as per Delphi Digital data.

DOGE co-creator Billy Markus commented on the decline in cryptocurrencies on Twitter.

DOGE is at a key level holding the $0.15 level as resistance, which could be construed as a bearish sign, wrote Benzinga’s Tyler Bundy on Thursday.

On Thursday, AMC Entertainment Holdings Inc (NYSE:AMC) CEO Adam Aron said that DOGE and Shiba Inu (SHIB) payments for “any and all” transactions via the AMC website and mobile app are on track for first quarter implementation with “exact timing most likely in March.”

Meanwhile, Pseuodynomous cryptocurrency analyst Kaleo said on Twitter Thursday that he was “going all in this time” if DOGE goes “anywhere under 20 sats.” 

At press time 20 Satoshis (0.00000020 BTC) equaled nearly $0.008. This means DOGE will have to fall 1775% from current levels before Kaleo makes the purchase.

Read Next: 2 Tales Of ‘#BabyDogeArmy’ And ‘#CryptoCrash:’ Why This Dogecoin-Inspired Crypto Is On A Tear Today

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