Dogecoin (DOGE) Social Sentiment Hits New Lows: Is Price Reversal Imminent?

After the turbulent start to the week, Dogecoin (DOGE) price quickly reclaimed $0.072 on Tuesday. However, widespread negative media sentiment has sent it spiraling toward $0.065 once again.

Timeline of Dogecoin

As the fallout from the lawsuits filed by the United States Securities and Exchange Commission (SEC) against two popular cryptocurrency exchanges – Binance and Coinbase – subsides, cryptocurrencies are slowly starting the recover, including those that are still available for less than $0.10 apiece.

There is an imbalance in the digital currency ecosystem as Bitcoin (BTC) and altcoins are exhibiting different growth trends. With all of the broad uncertainties on the market, cat-themed meme coin ChitCAT has jumped by a massive 35% in an apparent altcoin-leading move, with its price currently pegged at $0.1558.

A leading crypto trader is expressing bullish sentiment on the second-largest crypto asset by market cap, Ethereum (ETH). Pseudonymous analyst DonAlt tells his 51,000 YouTube subscribers that Ethereum could surge by around 36% from current levels if it manages to turn a key resistance level into support.

The number of dogecoin (DOGE) holders has constantly been rising since the start of 2023, but the price couldn't hold to the crucial $0.07 mark with the recent bearish market sentiment.

Introduction Dogecoin (DOGE) is a popular cryptocurrency known for its unique branding and active community. In this daily technical analysis report, we will examine key indicators and interpret their values to provide insights into Dogecoin's potential price targets. Current Price: 0.0000026 BTC (unchanged) (as of 4:45 a.m.

Shina Inu (CRYPTO: SHIB) was sliding about 3.5% lower during Wednesday's 24-hour trading session, in tandem with Dogecoin (CRYPTO: DOGE) and much of the crypto sector. The bears were attempting to break Shiba Inu down from a double inside bar pattern, but having some difficulty due to lower-than-average volume.

Dogecoin (DOGE) price is down 10% from a month ago. After the price slipped to a new 2023 bottom on Monday, DOGE long-term investors held firm as they looked to avoid booking historic losses.

XRP, Dogecoin and several other cryptocurrencies are posting a rebound after the market witnessed selling pressure yesterday and the day before as a result of the SEC lawsuits against the two biggest exchanges, Coinbase and Binance.

Meme coins inspired by the Securities Exchange Commission (SEC) and its chair Gary Gensler have gained significant momentum, beating Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe coin (CRYPTO: PEPE) in gains over the last 24 hours. What Happened: Following the SEC's recent lawsuits against crypto exchanges Coinbase Inc (NASDAQ:COIN) and Binance, a number of meme coins saw a sharp increase in price.

Dogecoin Price Analysis: For nearly a month, the Dogecoin price witnessed a sideways trend between the $0.075 and $0.069 levels responding to broader market uncertainty. However, with the recent sell-off in the crypto market, the range formation resulted in the sellers' favor as the price plunged below $0.069.