Dogecoin's price has fallen over 6% in the last 24 hours, trading at $0.226, as part of a broader bearish sentiment in the memecoin sector. This decline follows a significant bull market correction after a rally exceeding 525% from August to December 2024. Reports linking North Korea's Lazarus Group to recent rug-pull scams in the memecoin market have exacerbated fears, leading to substantial losses, wiping out approximately $4.11 billion from the memecoin market within a day. Dogecoin’s network activity is also decreasing, with whale transactions at their lowest in four months. Additionally, open interest and funding rates for DOGE have declined, indicating a cautious trading approach. If DOGE breaks below the immediate support level of $0.2197, it could further drop towards $0.1459, representing a potential 35% loss. Without new catalysts, additional bearish momentum may persist.

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