Dogecoin Price Plunges 7% as Bearish Pressure Intensifies

Dogecoin price is encountering fresh selling pressure, with its price slipping beneath a key technical indicator while shrinking derivatives activity signals weakening market involvement. This latest price movement coincides with renewed focus on Elon Musk’s past poll regarding Tesla’s acceptance of DOGE as payment. As of press time, Dogecoin (DOGE) is trading at $0.07155, down 7.17% over the past 24 hours . The drop has carried the cryptocurrency beneath its lower Bollinger Band, and its Relative Strength Index (RSI) is nearing oversold territory. Dogecoin’s current slump mirrors persistent selling pressure that has steadily eroded its market structure since October. The daily TradingView chart reveals lower price levels after the October recovery, with sellers holding the upper hand in recent sessions.

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