DOGE Price Drops to $0.18 Amid Long-Term Holder Exodus and Death Cross Formation

Dogecoin (DOGE) has experienced a significant price decline, falling to $0.18 as long-term holders begin exiting their positions. This sell-off coincides with the emergence of a 'Death Cross' technical pattern on DOGE price charts, where the 50-day moving average crosses below the 200-day moving average - typically indicating potential further bearish momentum. The combination of reduced holding from long-term investors and this concerning technical formation suggests continued downward pressure on DOGE's valuation. Market analysts are monitoring whether this price level will hold as support or if additional declines are imminent for the popular meme cryptocurrency.