{"id":605074,"date":"2024-04-25T20:00:10","date_gmt":"2024-04-25T20:00:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=605074"},"modified":"2024-04-25T13:18:09","modified_gmt":"2024-04-25T13:18:09","slug":"dogecoin-price-down-today","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/dogecoin\/dogecoin-price-down-today\/","title":{"rendered":"Why Is The Dogecoin Price Down Today?"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/dogecoin-doge-price-reach-1\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Dogecoin (DOGE)<\/span><\/a><span style=\"font-weight: 400\">, the foremost meme coin, is down over 6% in the last 24 hours according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/dogecoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap. This downtrend can be attributed to the price movement of the flagship crypto, Bitcoin.\u00a0<\/span><\/p>\n<h2>Dogecoin Drops Alongside Bitcoin<\/h2>\n<p><a href=\"https:\/\/bitcoinist.com\/dogecoin-holder-profitability-high\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Dogecoin\u2019s price<\/span><\/a><span style=\"font-weight: 400\"> also experienced a sharp decline as the flagship crypto dropped from over $66,000 to below $64,000 in the last 24 hours. Altcoins like DOGE are known to experience a similar downtrend whenever Bitcoin\u2019s price records a correction like the way it has done. Generally, the <\/span><a href=\"https:\/\/bitcoinist.com\/ripple-ceo-weighs-in-his-5-trillion-crypto-market\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">global crypto market<\/span><\/a><span style=\"font-weight: 400\"> is down over 4%, thanks to this occurrence.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/shiba-inu\/shiba-inu-shib-golden-ratio\/\">Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio<\/a><\/div>\n<p><span style=\"font-weight: 400\">Several factors are believed to have contributed to Bitcoin\u2019s recent decline (and, by extension, Dogecoin and other altcoins). One is the upcoming release of the Personal Consumption Expenditures (PCE) inflation data on April 26. Despite <\/span><a href=\"https:\/\/www.clevelandfed.org\/indicators-and-data\/inflation-nowcasting\" rel=\"nofollow\"><span style=\"font-weight: 400\">estimates<\/span><\/a><span style=\"font-weight: 400\"> from the Cleveland Fed, predicting that the PCE data will show that inflation has slowed, crypto investors are still wary, given that the March Consumer Price Index (CPI) data didn\u2019t show any disinflationary progress.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Crypto investors are also still apprehensive about the conflict in the Middle East. Although tensions between <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-dominance-slips-amid-israel-iran-conflict\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Israel and Iran<\/span><\/a><span style=\"font-weight: 400\"> seem to have subsided, there is still the belief that things could quickly get heated again. The impact this <\/span><a href=\"https:\/\/bitcoinist.com\/israel-attack-could-spark-interest-in-crypto\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">geopolitical conflict<\/span><\/a><span style=\"font-weight: 400\"> has on the crypto market has become evident, and investors want to avoid getting burned again.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the <\/span><a href=\"https:\/\/bitcoinist.com\/breaking-spot-bitcoin-etfs-approved-by-us-sec\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Spot Bitcoin ETFs<\/span><\/a><span style=\"font-weight: 400\">, which now significantly impact the crypto market, have seen their inflows slow this month. The demand for these investment funds has drastically dropped, contributing to the unimpressive price action among crypto tokens like Dogecoin, given the amount of liquidity they brought into the market at their peak.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Interestingly, the world\u2019s largest asset manager, BlackRock, <\/span><a href=\"https:\/\/x.com\/FarsideUK\/status\/36430823\" rel=\"nofollow\"><span style=\"font-weight: 400\">recorded<\/span><\/a><span style=\"font-weight: 400\"> zero daily inflows into its <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-tidal-wave-blackrock-etf-leads-inflows\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">iShares Bitcoin Trust (IBIT)<\/span><\/a><span style=\"font-weight: 400\"> for the first time on April 24, further underscoring how bad things have become.\u00a0<\/span><\/p>\n<h2>DOGE Still Expected To Experience Further Price Declines<\/h2>\n<p><span style=\"font-weight: 400\">Based on crypto analyst CrediBULL Crypto\u2019s <\/span><a href=\"https:\/\/bitcoinist.com\/can-dogecoin-reach-0-2\/#:~:text=Crypto%20Analyst%20Reveals%20Bearish%20Expectations,-by%20Scott%20Matherson&amp;text=Crypto%20analyst%20CrediBULL%20Crypto%20has,low%20as%20%240.5%20soon%20enough.\" rel=\"nofollow\"><span style=\"font-weight: 400\">recent analysis<\/span><\/a><span style=\"font-weight: 400\">, the foremost meme coin is still expected to experience <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-major-support-doge\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">further price declines<\/span><\/a><span style=\"font-weight: 400\"> even when the crypto market picks up again. The analyst mentioned that the crypto market is getting to the point where liquidity in memes like Dogecoin and other altcoins will get sucked by Bitcoin as it makes its <\/span><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-100000-cardano-dead\/#:~:text=Why%20Cardano%20Is%20Dead,non%2Dexistent%E2%80%9D%20on%20it.\"><span style=\"font-weight: 400\">move to $100,000<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/xrp\/vechain-xrp-parabolic-surge\/\">Analyst Singles Out VeChain And XRP For Parabolic Surge, Here Are The Targets<\/a><\/div>\n<p><span style=\"font-weight: 400\">The crypto analyst predicts that Dogecoin could drop to as low as $0.5 when this happens, suggesting there wouldn\u2019t be enough liquidity for the meme coin to maintain any uptrend. However, <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-doge-price-reach-1\/#:~:text=Crypto%20analyst%20Ali%20Martinez%20has,%241%20sooner%20rather%20than%20later.\" rel=\"nofollow\"><span style=\"font-weight: 400\">crypto analyst Kevin<\/span><\/a><span style=\"font-weight: 400\"> (formerly OG Yomi) offered a different opinion, <\/span><a href=\"https:\/\/x.com\/Kev_Capital_TA\/status\/37203892\" rel=\"nofollow\"><span style=\"font-weight: 400\">noting<\/span><\/a><span style=\"font-weight: 400\"> that nothing on the monthly time frame suggests Dogecoin will drop to as low as $0.5.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/hFsdtRqq\/\" alt=\"Dogecoin price chart from Tradingview.com\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">DOGE price drops below $0.15 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">DOGEUSDT on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Cryptoast, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin (DOGE), the foremost meme coin, is down over 6% in the last 24 hours according to data from CoinMarketCap. This downtrend can be attributed to the price movement of the flagship crypto, Bitcoin.\u00a0 Dogecoin Drops Alongside Bitcoin Dogecoin\u2019s price also experienced a sharp decline as the flagship crypto dropped from over $66,000 to below $64,000 in the last 24 hours. Altcoins like DOGE are known to experience a similar downtrend whenever Bitcoin\u2019s price records a correction like the way it has done. Generally, the global crypto market is down over 4%, thanks to this occurrence.\u00a0 Related Reading: Shiba Inu Exchange Balances Reach New Low As SHIB Bounces Off Golden Ratio Several factors are believed to have contributed to Bitcoin\u2019s recent decline (and, by extension, Dogecoin and other altcoins). One is the upcoming release of the Personal Consumption Expenditures (PCE) inflation data on April 26. Despite estimates from the Cleveland Fed, predicting that the PCE data will show that inflation has slowed, crypto investors are still wary, given that the March Consumer Price Index (CPI) data didn\u2019t show any disinflationary progress.\u00a0 Crypto investors are also still apprehensive about the conflict in the Middle East. Although tensions between Israel and Iran seem to have subsided, there is still the belief that things could quickly get heated again. The impact this geopolitical conflict has on the crypto market has become evident, and investors want to avoid getting burned again.\u00a0 Meanwhile, the Spot Bitcoin ETFs, which now significantly impact the crypto market, have seen their inflows slow this month. The demand for these investment funds has drastically dropped, contributing to the unimpressive price action among crypto tokens like Dogecoin, given the amount of liquidity they brought into the market at their peak.\u00a0 Interestingly, the world\u2019s largest asset manager, BlackRock, recorded zero daily inflows into its iShares Bitcoin Trust (IBIT) for the first time on April 24, further underscoring how bad things have become.\u00a0 DOGE Still Expected To Experience Further Price Declines Based on crypto analyst CrediBULL Crypto\u2019s recent analysis, the foremost meme coin is still expected to experience further price declines even when the crypto market picks up again. The analyst mentioned that the crypto market is getting to the point where liquidity in memes like Dogecoin and other altcoins will get sucked by Bitcoin as it makes its move to $100,000.\u00a0 Related Reading: Analyst Singles Out VeChain And XRP For Parabolic Surge, Here Are The Targets The crypto analyst predicts that Dogecoin could drop to as low as $0.5 when this happens, suggesting there wouldn\u2019t be enough liquidity for the meme coin to maintain any uptrend. However, crypto analyst Kevin (formerly OG Yomi) offered a different opinion, noting that nothing on the monthly time frame suggests Dogecoin will drop to as low as $0.5. DOGE price drops below $0.15 | Source: DOGEUSDT on Tradingview.com Featured image from Cryptoast, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":605086,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,89174,85675,7,1803,1804,79599,79600],"class_list":["post-605074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-news","tag-dogecoin-price","tag-dogeusd","tag-dogeusdt"],"acf":[],"yoast_head":"\n<title>Why Is The Dogecoin Price Down Today?<\/title>\n<meta name=\"description\" content=\"Dogecoin (DOGE), the foremost meme coin, is down over 6% in the last 24 hours according to data from CoinMarketCap.\" \/>\n<meta name=\"robots\" content=\"index, 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