Dogecoin [DOGE] unlike its rival Shiba Inu [SHIB] seemed to be struggling. While SHIB saw a dainty recovery today, DOGE continued to drop. The meme coin was trading at $0.107, during press time. The asset dipped by 0.97% throughout the last couple of hours. DOGE also witnessed a 15% decrease over the past seven days. The asset’s monthly fall comes up to 26.99%.
In addition, DOGE has $2.51 billion in open interest as of press time. Since June 8, when it began its downward trajectory, it has dropped by 80%. For comparison, a month ago, the asset’s open interest exceeded $10 billion.
But Changelly believes that DOGE could see a reversal in the ongoing trend. Throughout this week, the meme coin is expected to witness an uptick. Amidst this, several investors are hopeful that DOGE will touch the 50-cent mark. According to Changelly, DOGE will only hit the 50-cent mark in 2027. The network revealed that the asset would surge to a maximum price of $0.5398 in 2027. Dogecoin is slated to trade at a low of $0.4724 during the same year.
Also Read: Dogecoin (DOGE) and Top 5 Meme Coins Down Double Digits
Dogecoin Co-founder Comments on Current Market Trend
Billy Markus, the co-founder of the Dogecoin network in 2013, commented on the notable downturn the cryptocurrency market is currently experiencing on his X account. This time, Markus, who is known on social media for his jokes and dark, satirical observations on cryptocurrencies and the crypto market commented on the current drop of Bitcoin. He even noted how the entire market is following it all the way south. He shared a photo of a boat that was sinking with the caption, “How’s your crypto going?” The bold title of the boat, “No Worries,” provides the solution to that.
Also Read: List of Celebrities That Have Invested in Dogecoin
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