Dogecoin has moved below the crucial support level of 0.30 USD, placing 0.23 USD as the next target. The lack of whale activity and diminishing trading volume signals a forthcoming price drop.

The decline in social volume for Dogecoin suggests waning investor interest, with a 2% decrease in the combined market cap of memecoins, indicating shifting investor priorities. This environment poses challenges for Dogecoin’s recovery.