Dogecoin holders among least stressed amid current market crisis, study finds

Cryptocurrencies have long been associated with high volatility, which makes it stressful for investors who endeavor to profit from different digital assets. However, the stress levels among investors appear to vary depending on the type of asset in question.

Timeline of Dogecoin

Dogecoin price analysis indicates the resuming of a bearish trend following a brief period of sideways movement over the previous few days. The downturn that began last week has continued as the price has dropped up to $0.085162.

Dogecoin (CRYPTO: DOGE) relative Litecoin (CRYPTO: LTC) is seeing an upward movement, after trading below the $60 mark for several weeks. What Happened: At the time of writing, LTC was trading at $62.85, up 8% in the last 24 hours, according to CoinMarketCap.

Elon Musk's takeover of Twitter pushed the price of Dogecoin higher at various points in the last couple of weeks. This was due to the billionaire's relationship with the meme coin in the past.

Among the 10 most expensive Telegram usernames sold on Fragment, one stands out for a particular reason – it is the only one related to the cryptocurrency sector, and it is one of Tesla (NASDAQ: TSLA) CEO Elon Musk's favorite coins – the meme token Dogecoin (DOGE).

A recent modest loss was experienced by DOGE/USD, according to the Dogecoin price analysis. Following yesterday's bearish price function, today, bearish pressure has persisted, although bulls are also attempting to seize the initiative.

Dogecoin remains Elon Musk's favorite cryptocurrency and the billionaire's conviction in the meme coin looks to not have waned thus far. As the crypto winter rages on, speculations abound on what projects would be able to make it out and come out stronger.

DOGE was one of the top memecoins in terms of social activity  BabydogeSwap launched its new USDT/DOGE farm  Dogecoin [DOGE] recently made it to the news as it ranked second in the list of top meme coins in terms of social activity as per LunarCrush.

The crypto space is undergoing a roller coaster ride ever since the markets tumbled in H1 of 2022. Undoubtedly, the bulls attempted at each level to hold back the price, but the bears were pre-determined to restrict the price rally under the pivotal levels.

As the embattled CEO of collapsed FTX cryptocurrency exchange Sam Bankman-Fried attempts to raise capital to rescue the platform, the move has received mixed reactions amid fears the funds could be misappropriated. Following the collapse of FTX, Bankman-Fried has come under the spotlight for allegedly mismanaging customer funds.

 DOGE's price fails to hold amidst market turmoil as price falls back to its support zone with a range-bound movement.  DOGE's price continues to show strength after a bearish downtrend with the market's current state, as things look uncertain for most traders and investors.