Dogecoin [DOGE] has been witnessing back-to-back price corrections, which has put the meme coin in a tough spot.
Dogecoin’s value dropped by double digits in the last 24 hours, suggesting that it might slip off the top 10 list of cryptos.If this declining trend lasts, DOGE will soon bid farewell to the top 10 list of cryptos in terms of market capitalization. In fact, given the scale of its most recent corrections, it could soon be overtaken by the likes of SHIB and Toncoin., DOGE was down by more than 13% in the last 24 hours. At press time, it was trading at $0.
To better understand at what time DOGE began its bear run, AMBCrypto took a look at its liquidation heat map. As per our analysis, DOGE’s latest price correction began when its price touched $0.157. The Whale Transaction Count also dropped after spiking on the 14th of March. Network activity also declined last week, which was evident from the decline in its Daily Active Addresses.We then took a look at DOGE’s daily chart and found that the meme coin’s MACD displayed a bearish crossover.
As per CoinMarketCap, SHIB was also down by more than 12% in the last 24 hours. At press time, SHIB was trading at $0.00002491 with a market cap of over $14.6 billion.
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