The cryptocurrency market is currently focusing on leading cryptocurrencies as uncertainty prevails. Bitcoin has fluctuated below $60,000 and then rebounded, while investor attention seems to be shifting towards meme coins like DOGE.

DOGE has been experiencing selling pressure, resulting in a price decline. Bitcoin's price has also dropped below $60,000 on multiple occasions but is currently holding steady at this level. In the last 24 hours, DOGE has seen a 4.3% decrease, with a price of $60,200.

Despite an increase in DOGE investors since April, the price has continued to drop, reaching 4.29 Turkish Lira, reflecting an 8% decrease. Overall market sentiment remains fearful, potentially leading meme coins towards new lows.

Presently, DOGE is trading at $0.1313, forming a range between $0.14 and $0.165. The market has experienced notable capital outflows, as indicated by the CMF at -0.09.

The 12-hour RSI stands at 37, signaling a downward trend after losses over the past few days. Despite the bearish outlook, there may be opportunities for market entry and loss mitigation. However, indicators suggest the possibility of further losses.

Data from Coinalyze shows low capital inflow and declining Open Interest, indicating a lack of speculative interest. The Spot CVD has been on a downward trend since April 22, with a recent pause in the decline, suggesting a potential new drop.

If the Spot CVD can surpass its current level, it may create a positive atmosphere for investors looking to buy at lower price levels.