Dogecoin falls 7% to $0.071 as derivatives interest drops below $1 billion

Dogecoin is facing renewed selling pressure, driving its price lower and leading to declining activity in its derivatives market. This recent decline coincides with renewed social media attention on Elon Musk’s historic poll about the possibility of Tesla accepting Dogecoin as payment, though no official comment or decision has followed since. Dogecoin (DOGE) is currently trading at $0.07155, representing a 7.17% decrease over the past 24 hours. This move places DOGE beneath its lower Bollinger Band, with the band’s bottom currently at $0.07250. Meanwhile, the Relative Strength Index (RSI) sits at 32.60, nearing the oversold mark of 30 but not yet signaling a definite reversal in momentum. Recent daily chart data underscores that sellers remain dominant, eroding gains made during late October.

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