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Crypto

Dogecoin Price Continues Downward Spiral Amid Renewed Retail Interest

Guavy AI Editorial Team
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DOGE DOG
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Dogecoin (DOGE) has been under intense selling pressure since May's highs around $0.1186, and its current price is hovering below $0.0700.

This level was recently a support but has now become resistance for the meme coin.

The recent sell-off has seen DOGE shed 3% of its value in the first week of August, putting it under significant bearish pressure.

Despite this, there is renewed retail interest in Dogecoin, with the derivatives market experiencing a massive uptick in perpetual futures Open Interest (OI) to 16.36 billion DOGE on Thursday.

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