Dogecoin (DOGE) is underperforming its top-ranking rivals, having fallen over 8% in the last 24 hours to trade at $0.158.
What to know:
Dogecoin lost 41% of its value between March 3 and March 11.
The top memecoin established its lowest price in four months at $0.142 on March 11.
DOGE/USD daily price chart. Source: Cointelegraph/TradingView
Dogecoin’s downturn today and in recent months mirrors the panic across the memecoin sector.
DOGE’s technicals and onchain data hint at further declines.
DOGE leads memecoin slump
Dogecoin’s declines today are part of a broader bearish sentiment in the memecoin sector.
Key takeaways:
Shiba Inu (SHIB), the second largest memecoin by market capitalization, was down 7% over the last 24 hours to trade at $0.00001167.
Ethereum-based Pepe (PEPE) has dropped by approximately 8%.
Solana-based SPX6900 (SPX) posted the most losses among the top-cap memecoins, dropping by