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Dogecoin Slips Under Crucial Support as Investors Rotate Into 50x Potential Play Remittix
The meme coin hype train might finally be slowing down. Dogecoin’s price action has just dipped under a key support level, triggering a sell-off across short-term holders.
Analysts warn that momentum is fading, and smart money is already flowing into fresh plays. In this context, the most promising alternative appears to be Remittix (RTX).
As a result of losing its mojo, Dogecoin price action has slipped below a key support level at $0.18, marking a significant breakdown for the token. The current trading range indicates DOGE is down 5.2% over the past seven days.
Furthermore, on-chain data reveals that whales are unloading their positions, leading to thinning volume and diminishing bullish conviction. As a result, traders are now questioning how much upside remains and whether it’s time to shift focus towards newer, utility-driven tokens with considerable room for growth.
Dogecoin Price Cracks Under $0.18
The Dogecoin price has not only cracked the aforementioned support level but is also trading near its current low of approximately $0.176. This 5.2% decline over a week’s time is alarming and could potentially lead to even more severe losses if this momentum continues.
Investors Seeking Higher Upside
While some traders may see this as an opportunity to scoop up DOGE at a discounted price, many are now turning their attention towards new tokens with higher potential returns. Among these alternatives stands Remittix (RTX), which has been gaining traction due to its real-world applications and innovative technology.
Remittix: A Utility-Focused Token
Remittix is an early-stage cryptocurrency that aims to solve the global $19 trillion payments problem by introducing direct crypto-to-bank transfers in over 30 countries. The token’s value proposition lies in its transparent and secure nature, as it has been audited by CertiK.
While Dogecoin continues to struggle with maintaining key levels, Remittix is consistently delivering new milestones.
Source: coinpedia.org
