Dogecoin drops 4% as traders sell rallies and support gives way

Dogecoin has dropped 4%, driven by traders selling into rallies as support levels break. The recent trend shows cautiousness among investors towards meme tokens, favoring assets with clearer institutional signals. This has led to increased selling pressure on Dogecoin as traders look to mitigate risks by focusing on more stable investments. On the technical side, the break below key support levels raises concerns about further downside potential, with market participants shifting away from meme coins. Investors are becoming wary, opting for cryptocurrencies that exhibit stronger fundamentals. In this climate, traders are closely monitoring market developments, looking for opportunities in more established assets.