DOGE's Price Chart Gets Roasted by Its Own Official Account

Dogecoin's official X account has taken a lighthearted jab at the cryptocurrency's ongoing price slump, posting an image of a Shiba Inu dog in a yoga pose and captioning it 'Somebody needs to tell the charts to stop doing the downward dog.'

The post comes as Dogecoin struggles alongside the rest of the cryptocurrency market. The memecoin has dropped 9% over the past week and nearly 24% in a month, with selling pressure continuing to mount.

Dogecoin recorded over $1 billion in trading volumes in just the last 24 hours, marking a 105% increase. This surge in activity comes as cryptocurrency analyst Ali Martinez had flagged $0.087 as a crucial support for Dogecoin earlier this month.

The Relative Strength Index has flipped into oversold territory, suggesting it may be a good time to enter the trade. However, the Moving Average Convergence Divergence indicator has flashed a 'Sell' signal.