Why dogecoin going down

Dogecoin USD (DOGE-USD)

Dogecoin has left the majority of its investors, who are new entrants, neck-deep in losses, and early investors are struggling to breakeven. Little wonder why investors are seeking a safe haven in a new hybrid memecoin, which experts are saying will rake in massive profits for investors in 2023. Dogecoin goes down At the same time, he hinted that he could use Dogecoin in his company’s operations, although the price continued to fall in line with the wider crypto market. He explained, for example, that Dogecoin will be used to buy SpaceX and Tesla items.

Dogecoin why is it going down

Reddit, the popular social media platform, has made headlines with its recent filing for an… Speculative traders have also started leaning bullish  Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

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However, it may take some time for the current market to recover. And there is a need for caution over the coming months. DOGE is currently trading around $0.06 after starting 2022 at $0.17. It has lost over half its value in that time. Moreover, the current market volatility isn’t slowing down. And prominent Dogecoin supporter Elon Musk has his attention elsewhere, such as a Twitter takeover. What is the future of Dogecoin? The $258bn lawsuit was filed in June by investors who have lost money on the token, arguing that the defendants “profited tens of billions of dollars” while knowing that the value of dogecoin “depended solely on marketing”. The dogecoin price skyrocketed by 1,234% from April 2021 to peak at an all-time high of $0.7376 the following month.

Dogecoin goes down

The problem with such correlations is that they tend to follow the same negative, as well as positive, path. Given this, when the price of Shiba Inu started to fall, Dogecoin followed suit with the expectations that both of these assets would go in the same direction. Compare Dogecoin Performance Dogecoin isn’t the only currency without smart contracts. Bitcoin doesn’t have smart contracts either. But combined with all the arguments against Dogecoin above the lack of smart contracts is seen as a weakness for DOGE.