Dogecoin Plunges to 2023 Low Amid Heavy Selling Pressure

Dogecoin has hit its lowest point in 2023, dropping below $0.07 to $0.068. This decline triggered significant liquidations of long positions and increased selling pressure, with trading volumes and futures outflows rising sharply.

The Relative Strength Index indicates strong bearish momentum, but near-oversold conditions might attract some buyers.

If selling pressure continues, Dogecoin could fall further to $0.065, but spot market outflows suggest some support that might help it recover to $0.07 or higher.