Understanding Dogecoin’s Recent Decline: Factors Behind its Failure to Mirror Bitcoin’s Rally
Historically, the movements of Bitcoin [BTC] and Dogecoin [DOGE] in the cryptocurrency market have been closely linked, often with Bitcoin leading the way and impacting the price trends of Dogecoin.
Nevertheless, despite Bitcoin’s recent surge past the $100,000 milestone, Dogecoin has notably lagged behind, slipping below the critical support level of $0.40.
This evident divergence between these two prominent digital currencies poses significant questions regarding the future dynamics of their correlation and whether Dogecoin is capable of regaining its positive momentum. Dogecoin’s performance weakens amidst Bitcoin’s upward momentum.