{"id":4908,"date":"2021-07-03T19:06:40","date_gmt":"2021-07-03T18:06:40","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=4908"},"modified":"2021-07-03T19:06:42","modified_gmt":"2021-07-03T18:06:42","slug":"expect-dogecoin-to-fall-towards-0-this-year-and-die-a-slow-death-says-analyst","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/expect-dogecoin-to-fall-towards-0-this-year-and-die-a-slow-death-says-analyst\/","title":{"rendered":"Expect Dogecoin to fall towards $0 this year and die a slow death, says analyst"},"content":{"rendered":"\n
Over the last few days, Dogecoin<\/a>, the leader of the meme-coin pack, has been stuck in a standstill.<\/h5>\n\n\n\n
\"Expect<\/figure>\n\n\n\n

At press time, the price of the ailing sixth-largest crypto was fluctuating about the $0.2-range, with the normal exhilaration and excitement in the DOGE\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> market seemingly fading.<\/p>\n\n\n\n

DOGE was trading at $0.2405 at the time of writing, down 3% in the previous week. The meme-price, coin's on the other hand, has climbed by 10,472.48 percent in the last year. As a result, when considering DOGE's previous price movements, the 3% loss may appear insignificant.<\/p>\n\n\n\n

Nevertheless, when looking at the big picture, several questions appear. Has DOGE's allure and attraction waned? Is it going to burst any time soon?<\/p>\n\n\n\n

Has the community already given up on the coin? Even while it appears to be the emerging tendency, it cannot be said with perfect certainty.<\/p>\n\n\n\n

Since mid-May, the price and social volume of Dogecoin <\/a>have become less interdependent. In reality, throughout the last few days, the latter has remained virtually unchanged. Furthermore, when compared to May, Dogecoin's social dominance has significantly decreased.<\/p>\n\n\n\n

With that being said, social media has failed to bring the \u201cjoke-coin\u201d any solace. Dogecoin also isolated itself from market-centric trends and prolonged its boring atmosphere.<\/p>\n\n\n\n

Following Coinbase's most recent listing, this became even more apparent. This discovery failed to offer DOGE with any respite, despite the fact that it was an implausible situation.<\/p>\n\n\n\n

Furthermore, IntoTheBlock's statistics indicated that market sentiment toward DOGE was “mainly pessimistic” at the time of writing. Unsurprisingly, the average transaction amount dropped dramatically from $1,684,809.74 in early June to $90,497.08 at press time.<\/p>\n\n\n\n

Furthermore, DOGE's average balance has decreased from $23k in May to $7k in June. Its trading volumes were also not particularly outstanding.<\/p>\n\n\n\n

Despite this drab and uninteresting environment, Robinhood recently disclosed that Dogecoin trading accounted for 34% of its overall crypto revenue in Q1.<\/p>\n\n\n\n

While Dogecoin has historically been a good Samaritan for its investors, it has recently struggled. Are DOGE's high-performance days also a thing of the past now that Q1 is over?<\/p>\n\n\n\n

Now, according to one analyst, Dogecoin has entered the fourth stage of its bubble, with the chances of a “complete loss of capital” remaining strong. In fact, he advised investors to exercise caution and stated,<\/p>\n\n\n\n

\u201cThis year, expect Dogecoin to tumble to $0 and suffer a slow death.\u201d<\/p>\n\n\n\n

No recent news, including Elon <\/a>“the catalyst's” tweets, has arguably supplied DOGE with any comfort of a rise. In the short run, the joke-coin that used to enjoy dancing to Musk's music has also stopped doing so. Maybe DOGE isn't anyone's puppet any longer!<\/p>\n","protected":false},"excerpt":{"rendered":"

Over the last few days, Dogecoin, the leader of the meme-coin pack, has been stuck in a standstill. At press time, the price of the ailing sixth-largest crypto was fluctuating about the $0.2-range, with the normal exhilaration and excitement in the DOGE market seemingly fading. DOGE was trading at $0.2405 at the time of writing, […]<\/p>\n","protected":false},"author":13,"featured_media":4909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,81],"tags":[157,363],"class_list":["post-4908","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-altcoin-news","tag-dogecoin","tag-elon"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/07\/image-18.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=4908"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/4908\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/4909"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=4908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=4908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=4908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}