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**Dogecoin (DOGE) Loses 40% from Top: What’s Next?**
By Arman Shirinyan
The cryptocurrency market has been a wild ride recently, and the latest price action of Dogecoin (DOGE) is no exception. Since reaching an all-time high of $0.75 just a few days ago, DOGE has plummeted by over 40%, dropping to around $0.45.
Adam Back, the creator of Hashcash, which was used in Bitcoin’s early days and a leading figure in the cryptocurrency space, recently spoke with U.Today about the current market situation and the long-term potential of Dogecoin.
“I think it is important to recognize that we are still in the early stages of this asset class,” Adam Back said. “The recent losses are a natural correction within a larger upward trend. However, it’s also crucial to understand that DOGE’s 21 million cap remains unchanged. The market will eventually realize its true value.”
It is difficult to predict with certainty what will happen next with Dogecoin’s price. However, we can analyze the situation and provide some insights based on historical trends.
The cryptocurrency has not yet tested the $0.28 support level. If it breaks this level, there is a chance that DOGE may continue downward momentum and potentially reach even lower levels.
Source: u.today
