Dogecoin’s (DOGE) price has crashed below the 7 cent mark. The original memecoin has dipped 4.6% in the last 24 hours and 12.6% over the previous month, according to CoinGecko data. DOGE’s price has also fallen by more than 90% since its all-time high of $0.7316. Let’s discuss if you should consider buying the dip.
Dogecoin Price Crash: Should You Buy The Dip?
Dogecoin’s (DOGE) latest price correction comes after a rise in bearish forces. Oil prices have surged, which may lead to higher inflation numbers for July 2026. If inflation rises, the Federal Reserve may decide to raise interest rates. Higher rates often lead to less risky investments. DOGE is a memecoin and carries some of the highest risks in the market.
The ongoing conflict between the US and Iran does not seem to have an end in sight. Investors are likely worried about a potential market crash. Dogecoin (DOGE) and the larger cryptocurrency market are likely responding with increased fears.
Dogecoin’s (DOGE) current low prices may, however, prove to be a good entry point. Elon Musk’s SpaceX has been working on a DOGE-funded satellite. Musk has stated that the launch could happen sometime in 2027. Musk also said that he may put an actual Dogecoin on the moon. Such a development could potentially propel the memecoin’s price to the $1 mark.
Also Read: Dogecoin Worst Case Scenario: How Low Could DOGE Go?
There has also been a lot of talk about Musk’s X social media platform including Dogecoin (DOGE) in its payments feature. X has millions of users who could become potential DOGE users. Such a spike in adoption may also lead to a massive price spike.
While the cryptocurrency market may take some time to recover, current prices could be a good entry point for the next bull run. Dogecoin (DOGE) remains one of the most popular memecoins in the market and the coin could see a new peak in the next bull market.
