Analyzing the challenges Dogecoin [DOGE] may face trying break free from Bitcoin [BTC]
— Zone, Ways, Face, Dogecoin, Bitcoin, Challenges, Analyzing, Market, Doge, Free — 1 min read
The correlation Dogecoin shared with Bitcoin at the time of writing fell to a low of 0.23, the lowest since May 2021. In a bull market, such development may not be in the best interests of an altcoin. But given Bitcoin has been unable to move beyond $20k, it might be the best thing to happen for DOGE. Its 14-month-long downtrend continues to act as resistance, testing which the meme coin fell by 15.44% this week. The meme coin's market value has been sitting at almost negative 60% for a little over a month now. DogeCoin is desperately trying to rile up its community by dedicating themselves to the project in whatever ways one can. Source