Dogecoin was one of Thursday’s biggest movers, as the meme coin fell by as much as 9%. The decline comes as market sentiment begins to shift, following huge gains to start the week. Litecoin was also in the red today, with prices hovering near the $90.00 level.Dogecoin fell for a third consecutive session on Thursday, as market sentiment shifted bearish, following strong gains to start the week.
DOGE/USD dropped to a low of $0.08857 earlier in the day, which comes less than 24-hours after trading at a high of $0.09804. The meme coin rose to a four-month high earlier in the week, after Twitter changed its logo to a cartoon image of Doge.Since then, traders have appeared to abandon earlier long positions, instead opting to secure profits.
As a result of this latest decline in price, the relative strength index has now fallen below a long-term floor at 60.00. At the time of writing this, the index is now tracking at 59.59, with a strong chance of further declines.
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