Dogecoin Crashes Below $0.0700 Amid US-Iran Tensions

Dogecoin's price has dropped to below $0.0700 on Friday, following a 5% decline the previous day.

The cryptocurrency's value is highly correlated with broader market sentiment, and it relies heavily on speculative demand for its upward momentum.

The ongoing tensions between the US and Iran have heightened fear in the crypto market, causing Dogecoin to lose retail strength and dip below $0.0700.

CoinGlass data shows that the DOGE futures Open Interest has edged lower to $1.10 billion, but trading volume has increased by 76% to $1.38 billion, indicating rising retail activity.