Drastic decrease in transaction volume: Dogecoin’s transaction volume dropped sharply from 5,690,000,000 USD to 415,310,000 USD in less than two months. This significant decline indicates a bearish sentiment among traders and risks jeopardizing the 300% year-to-date gains accomplished earlier.
Negative market sentiment and price outlook: With a Weighted Sentiment metric at -0.57, Dogecoin faces increasing bearish sentiment. Current pricing trends suggest a potential decline below 0.36 USD, emphasizing the need to closely monitor market dynamics.