DOGE News: Dogecoin Plunges to Lowest Level Since November 2024 Amid Retail Sellers’ Panic

Dogecoin (DOGE) has experienced a significant price drop, trading below $0.19 for the first time since November 2024. Retail traders’ panic selling has been identified as the primary cause of this downturn.

Dogecoin Price Prediction: DOGE Plunges to Lowest Level Since November 2024

Dogecoin (DOGE) price declined 12.4% on Friday, trading below $0.19 for the first time since November 2024. The latest downturn coincided with spikes in daily active addresses, signaling active sell pressure from retail traders. Despite trending in oversold territories, the Doge Relative Strength Index indicator continues to slope further downward. On-chain data trends suggest retail traders’ panic selling is behind the latest price downturn.

CFPB Layoffs Hinted by Employee Testimony, Mention of Musk’s DOGE

Employees from the Consumer Financial Protection Bureau (CFPB) have expressed concerns about potential massive layoffs by the Trump-appointed leadership and Elon Musk’s Department of Government Efficiency (DOGE). They were informed of the layoffs in meetings earlier this month with senior CFPB leaders and members of DOGE. An anonymous employee revealed that his team was tasked with terminating the majority of CFPB employees as soon as possible.

Dogecoin’s Price To Shift Upward As DOGE Enters High-Demand Order Block Zone

Dogecoin began bearish price action after a brief bullish momentum on Thursday, falling as low as $0.201. Over the past month, DOGE’s price has declined by almost 40%, sparking speculations about a bear market phase. However, market expert Trader Tardigrade has revealed that Dogecoin has entered a crucial order block zone, hinting at substantial buying activity that may lead to an uptrend.