Dogecoin Price Drops 4% as Key Support Level Fails Amid Sell-Off

The price of Dogecoin (DOGE) has declined by approximately 4% in the latest market movement. This drop occurred as traders capitalized on recent price rallies to sell their holdings, a strategy known as "selling the rally." Concurrently, a crucial technical support level for DOGE failed to hold, accelerating the downward pressure. The breach of this support zone indicates weakening buyer interest and suggests potential for further short-term volatility. Market analysts are closely monitoring the next significant support areas for the popular meme cryptocurrency. This price action reflects a broader trend of profit-taking and caution among traders in the current market environment.