The Dogecoin price correction extended throughout the weekend, teasing what might be the steady end of a powerful rally in the previous four weeks. The popular meme-based cryptocurrency dropped to a low of $0.3431, retreating from a recent high of $0.4265. This 19.55% decline has sparked speculation on social media about the sustainability of its gains and whether the momentum that fueled its rise is actually fading.

This Dogecoin price decline can be easily attributed to a decline in interest among market participants. Social media sentiment, a key driver of Dogecoin’s popularity and price movements, has shown signs of weakness. However, according to a crypto analyst, Dogecoin still has room to run, especially in terms of indicators surrounding its popularity.

Interest In DOGE Yet To Reach Its Peak

Despite its status as a large cryptocurrency, Dogecoin’s price uptick is mostly tied to social sentiment among traders and not by any demand for its utility or parent company. This reliance on sentiment creates a cyclical pattern: periods of heightened interest often lead to price surges, followed by inevitable corrections when attention begins to wane.

The latest Dogecoin rally has been caused by a widespread interest tied to the US presidential election, Donald Trump, Elon Musk, and comical associations with the Department of Government Efficiency (D.O.G.E.). Social media played a significant role in a

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Author: Scott Matherson