Bitcoin Death Cross Could Mean This for Dogecoin (DOGE) Price

Bitcoin's recent Death Cross, where the 50-day moving average dropped below the 200-day moving average, signals potential bearish trends impacting multiple cryptocurrencies, including Dogecoin (DOGE). Following this event on November 16, Bitcoin's price fell below $94,000, leading to increased market fear, notably reflected in the Fear & Greed Index. In the midst of this turmoil, DOGE initially rallied by 4.4% to $0.156 before late-session profit-taking reversed those gains. Analysts highlight that meme coins like DOGE are particularly sensitive to shifts in Bitcoin's market dynamics, especially during liquidity contractions driven by selling patterns and ETF outflows. Observations revealed significant bid support around the $0.155-$0.158 range, but analyst caution suggests that a failure to maintain this support could see DOGE regress toward lower levels. Conversely, reclaiming the $0.1604 mark could indicate resilience against broader market pressure. Hence, future trading volumes and Bitcoin's stability will heavily dictate DOGE's trajectory in the coming sessions.

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