🐶 Why is DOGE down? Quick analysis
Dogecoin drops by 1.58% in 24h, and the reasons are multiple:
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📉 1. Market context
Global crypto pullback: -0.4% in the total market.
Bitcoin season: altcoins are suffering (Altcoin Season index at 20/100).
Strong correlation with BTC (0.89) → DOGE follows BTC's decline.
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🥊 2. Competition: TRX surpasses DOGE
Tron has become the 8th largest crypto ($26 billion vs $25.4 billion for DOGE).
TRX profitability at 98% → capital diversion towards TRX.
Psychological impact and automatic adjustments by traders.
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📊 3. Unfavorable technical analysis
Bearish MACD: negative crossover.
Low RSI at 36.28 → no clear buying momentum.
Rejection at $0.172 (resistance) and testing support at $0.168.
Volume down by 38%: little conviction from buyers.
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📌 Conclusion
DOGE's decline combines:
Technical weakness
Risk aversion in the market
Direct competition from Tron
🔄 A rebound would require a strong catalyst, such as the integration of Dogecoin into X (formerly Twitter).
