Dogecoin has experienced awful decline that puts everything at risk
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As of right now, Dogecoin is trading slightly above the 200 EMA, another important indicator that technical analysts use to determine long-term trends. A deeper correction may be approaching if the 200 EMA, which is currently trading around $0.104, breaks below this level.'s behavior around this average will need to be closely watched by investors, as a decline below it could indicate that the asset is losing long-term support.
Meanwhile, on-chain metrics show a robust concentration of large holders and that 73% of holders are still profitable at the current price. It is also possible that some whales are still using Dogecoin despite the recent decline, as there has been a minor spike in large transactions.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.
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