{"id":18565,"date":"2023-03-10T17:00:54","date_gmt":"2023-03-10T17:00:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/doge-down-10-falling-to-lowest-point-since-october-market-updates-bitcoin-news\/"},"modified":"2023-03-10T17:00:54","modified_gmt":"2023-03-10T17:00:54","slug":"doge-down-10-falling-to-lowest-point-since-october-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/doge-down-10-falling-to-lowest-point-since-october-market-updates-bitcoin-news\/","title":{"rendered":"DOGE Down 10%, Falling to Lowest Point Since October \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Dogecoin fell to its lowest level since October, as cryptocurrency prices plunged during Friday\u2019s session. Overall, the global crypto market cap dropped by nearly 9% today, which seems to have been triggered by yesterday\u2019s liquidation of Silvergate bank. Litecoin has been another notable mover, falling by over 17%.<\/strong><\/p>\n

Dogecoin (DOGE)<\/h2>\n

Dogecoin fell to a five-month low on Friday, as crypto prices continued to plummet, following the liquidation of Silvergate Bank.<\/p>\n

DOGE\/USD dropped to an intraday low of $0.06302 earlier in the day, less than 24 hours after trading at a high of $0.0722.<\/p>\n

As a result of the decline, dogecoin fell to its lowest point since October 26, when price bottomed out at $0.0627.<\/p>\n

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DOGE\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, the sell-off came as the relative strength index (RSI) of 14 days dropped below a long-term floor at 30.00<\/p>\n

As of writing, the index is tracking at 21.52, which is very deep in bearish territory, and its weakest reading since July 12.<\/p>\n

This latest slippage in price could tempt longer-term bulls to buy the current dip, however an instant rebound may not be on the cards.<\/p>\n

Litecoin (LTC<\/a>)<\/h2>\n

Litecoin (LTC<\/a>) also dropped to a multi-month low in today\u2019s session, as the token fell by as much as 17%.<\/p>\n

Following a high of $84.76 on Thursday, LTC<\/a>\/USD slid to a low of $69.14 earlier in Friday\u2019s session.<\/p>\n

This plunge saw litecoin fall to its weakest level since New Year\u2019s Eve, when the token dropped to a bottom at $67.57.<\/p>\n

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LTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Overall, LTC<\/a> has now traded in the red for a fifth consecutive session, and is down nearly 23% in the past week.<\/p>\n

Like with dogecoin, the collapse in price has sent the 14-day RSI to an eight-month low, as it is currently tracking at 23.75.<\/p>\n

A floor at $63.00 could be a target for sellers, in the event that current sentiment extends into the weekend.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Do you expect a reversal in prices in the coming days? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, viewimage \/ Shutterstock.com<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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