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Amid the global market meltdown, several meme coins have yet to find solid ground after shedding an average 10% monthly loss. Doge is looking weak on the daily chart as it poises for another dip.
As few meme coins gain traction today, Dogecoin continued to witness a setback in its long-term bullish move following a consistent loss in the past week. Losing grip above $0.4 last month, it extended bearish and is now on the verge of dropping hard.
Notwithstanding, there’s still hope for a positive move if the bulls defend the important $0.3 level well. This level has been acting as support for some weeks, and as we can see, it may also lose grip amid rising supply.
A breakdown at this level could trigger a new selling phase in the near term. While the market sets for another drawdown, it is important to note that Doge’s structure remains bullish on a macro level. An…more
Source nulltx.com
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