Dogecoin Dips 9% — Potential Buy on Weakness Amid Musk-Driven Momentum
I'm watching Dogecoin after a 9% intraday drop to $0.22 that’s testing key support levels. Despite the pullback, DOGE remains up 25.5% on the week, fueled by whale accumulation and adoption hints tied to Musk’s X payments.
I view the decline as a short-term correction within a broader bullish backdrop; the market is digesting gains while buyers reassess risk around support zones.
Analysis
Recommendation
Monitor support at current levels and consider a buy-on-weakness approach if price stabilizes and on-chain indicators show continued accumulation; otherwise remain cautious and wait for confirmation.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.