Krutika Adani
Dogecoin had been the worst hit major memecoin in this recent crash. The crypto fell from $0.13 on 29 July to reach $0.085 on 5 Aug 2024.
Besides the marketwide selling, the recent crash was accelerated in Dogecoin because of a downtrend already present in its charts.
However, the formation of a bullish hammer and two successive green candles have confirmed the bottom around $0.085 for the time being.
However, some experts like Crypto Kaleo have predicted a crash towards $0.07 or even lower. On the other hand, experts like Kevin Capital have been predicting bullish targets.
The weakness in Dogecoin’s price, followed by a strong developmental effort from Shiba Inu’s team, has hinted that Dogecoin might not be able to retain its top memecoin tag in the future.