Dogecoin Price Prediction as Meme Coin Google Trends Data Shows Decline - Time to Sell DOGE?
Memecoin season has enjoyed a sensational run over the past two months, but as interest appears to be dwindling many fear Dogecoin (DOGE) could be the next to tank? Find out in this Dogecoin price prediction.
The 2023 memecoin season was ignited in April as now #71 ranked cryptocurrency Pepe coin (PEPE) gained explosive traction that powered a 50,000% gain for the earliest investors.
Sensation grew and rippled through markets, as capital rotated and surged into fellow spectacles Spongebob token ($SPONGE) and Copium token ($COPIUM) - both of which outperformed decades of stock market growth in hours.
However, worrying data emerging in the market conscience is casting a looming prediction over the future of the memecoin narrative.
Recent data from Google Trends reveals that the number of searches for memecoins is dropping off.
With a sudden downtick in search results suggesting a picture of declining interest in the memecoin narrative.
This could have devastating consequences for bag-holders, as the millionaire maker memecoin train could soon be ground to a halt.
The impacts of this declining interest are far reaching, skewing short-time frame price action to a bleak image.
And while memecoins could reignite with the posited 2024 bull run, for now things could get ugly.
As memecoin values turn sour, Dogecoin (DOGE) has proved no exception, as a -25% slide over the past 37 days has dominated the chart.
Dogecoin is trading at $0.07 (a 24 hour change of -0.14%) at the time of writing.
Now in a third week of consolidation at a critical support level above $0.07, Dogecoin appears fatigued as an attempted double-bottom structure begins to bleed-out to the downside.
This bearish price action has primarily been driven by a localised capstone
Read more on cryptonews.com
