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Why is Dogecoin collapsing?
Dogecoin's price drop today is part of the decline in the broader altcoin market weight versus Bitcoin (BTC). Notably, the Bitcoin Dominance Index, which measures the top cryptocurrency's market share versus the combined weight of all altcoins, has risen 0.83% in the past 24 hours.
Will Dogecoin ever recover?
While Dogecoin undoubtedly has the potential to run again, the over-reliance on Elon is a risk for the project. Moreover, compared to most of the best altcoins, Dogecoin also lags behind regarding tokenomics, mainly due to its unlimited supply and the fact ten wallets control 46% of coins.
Does Dogecoin have a future?
Dogecoin Overview Our most recent Dogecoin price forecast indicates that its value will increase by 0.06% and reach $0.094292 by December 24, 2023. Our technical indicators signal about the Bullish Bullish 77% market sentiment on Dogecoin, while the Fear & Greed Index is displaying a score of 74 (Greed).
What happened to Dogecoin today?
About Dogecoin Dogecoin's price today is US$0.09251, with a 24-hour trading volume of $548.6 M. DOGE is -3.25% in the last 24 hours.
Will DOGE ever hit $1 dollar?
The harsh truth The prospect of Dogecoin surpassing the $1 mark remains unlikely because it would require defying the laws of supply and demand -- an almost insurmountable task.