DOGE Price Drops 6% but Recovery Measures Bring Hope
The crypto industry has experienced a downturn, with the market cap falling by $51 billion in the last 24 hours. Dogecoin’s price has fallen 6% amidst the market downturn, but recovery measures have shown optimistic sentiments. The events of March 3rd showed the DOGE charts signifying a massive red candle, but the meme coin met its support level and its price rebounded. Data from IntoTheBlock crypt analyst, Ali Martinez, showed that 44,100 addresses purchased a total of 34.38 billion DOGE at the $0.075 demand wall. The coin is currently sitting at $0.07634, having fallen 5.22%, but the trading volume is up more than 135%. The market weakness seems connected to headlines surrounding the crisis within Silvergate Bank, but DOGE could be showing signs of turning things around.
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