Dogecoin (DOGE), the Shiba Inu-themed memecoin, finds itself in a curious situation. While the number of holders and overall interest in DOGE surges, its price has experienced a significant drop in the past week. This inconsistency reflects the broader volatility of the memecoin market, currently experiencing an influx of novice traders. Related Reading: Trouble Ahead? Binance Coin Futures Market Under Pressure With Negative Funding Rates IntoTheBlock, a blockchain analytics firm, revealed a record number of addresses holding memecoins for less than a month in March. This trend suggests a surge in new investors drawn to the memecoin craze. However, Dogecoin, despite leading the pack in terms of both traders and transactions, has seen its price tumble by over 20% in the last week. DOGE Technical Signs Grim? Technical indicators paint a concerning picture for DOGE’s immediate future. The Chaikin Money Flow (CMF), which measures buying and selling pressure, has dipped below zero, indicating an outflow of capital and a bearish sentiment. Source: IntoTheBlock Related Reading: XRP Battle Cry: Must Rally 70% To Reconquer $1 Peak After Market Tu ..
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