Dogecoin (Doge) enjoyed additional attention from investors, especially since Donald Trump took office and put Elus Musk responsible for Dog – a shortcut to the Ministry of Government efficiency. However, this interesting relationship is not particularly reflected in the price of the MC icon.
In fact, the Meme Coin market was reeling from the impact of the symbolic liquidity of the Trump symbol and other political symbols that followed its launch. According to data from Coingecko, the maximum Meme market is about 93.5 billion dollars, which reflects a decrease of approximately 10 % last day.
Is 35 % decrease on the horizon of the promise?
In a recent post on the X platform, prominent encryption analyst Ali Martinez open Two of the largest symbols, Dogecoin and Pepe, show a high degree of correlation. Crypto Pundit pointed out that the price of Dogecoin seems to reflect the price of PEPE.
It is not customary for two symbols to follow a similar price path, especially if they fall into the same market category (as it appears with Dogecoin and Pepe). Although there is no guarantee that the price of DOGE reflects the PEPE price, this apparent link can provide an insight into the future path of the first.
According to Martinez, a deep correction on the DOGECOIN price cards can be truly followed by PEPE. These descending expectations depend on the main support level of about $ 0.000017 at the PEPE price at the end of February.
The PEPE price has seen a sharp decrease to about $ 0.000011 (a decrease of more than 35 %) after breaking this decisive support. This support zone is located on the 0.31 dollar sign on the DOGECOIN chart and provided a DOGE price pillow several times in the past.
However, Dogecoin can see a decrease in the price to about $ 0.2 if a similar price pattern is run on the chart for four hours. With no significant support on this field to rid this recession, Dog’s price can suffer from a worse decrease.
DOGECOIN price overview
From writing these lines, the price of Dog is about $ 0.305, which reflects a decrease of more than 3 % in the past 24 hours. This performance for one day confirms Meme Coin’s struggles in recent weeks, with a decrease in approximately 12 % in the past seven days.
After reaching a local height of $ 0.46 in early December, the price of Dogecoin saw a shrinkage to about $ 0.26 in less than three weeks. However, the MEME symbol is often moving sideways, hovering around the area of $ 0.35.
