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Dogecoin Hits 2-Month Low- Could DOGE Retest Q3 2024’s $0.08083 Lows?

  • Dogecoin hits a two-month low amidst market instability and geopolitical tensions.
  • The cryptocurrency reached its lowest trading price in two months at $0.1427.
  • The broader market turmoil, influenced by geopolitical events, caused a 13.72% drop for DOGE.
  • The volatility from U.S. military actions in the Middle East impacted the cryptocurrency market sentiment.
  • Dogecoin experienced a minor recovery on Monday, trading at $0.152, but the overall outlook remains negative.
  • Analysts suggest Dogecoin faces pressure at critical support levels, with a potential further decline towards $0.1298 or $0.08083 lows.
  • The decreasing trading volume in June raises concerns about Dogecoin's stability and future price movements.
  • Technical indicators like MACD, CMF, and RSI show bearish momentum, weak buying pressure, and oversold conditions.
  • A price close above $0.1710 could signal a reversal for Dogecoin towards the $0.20 resistance level.
  • Dogecoin continues to face pressure amidst turbulent market conditions.

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