The OG meme cryptocurrency Dogecoin (DOGE) seems to be moving in sync with the rest of the market. The asset was seen struggling throughout the past couple of days. DOGE recorded a nearly 8% downfall during the last week. At the time of writing, the asset was priced at $0.1669. This comes after a 1.88% drop over the past 24 hours. The latest dip is a major setback for DOGE investors who were expecting to witness a rise during May.
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Amidst this, there were notable developments taking place in the Dogecoin network. To increase its capacity to create applications on the Dogecoin blockchain, DogeOS has raised $6.9 million in investment, with Polychain Capital serving as the lead investor. The money will boost the Dogecoin ecosystem and its decentralized finance services by allowing DogeOS to support a range of consumer apps.
It should be noted that by providing new use cases and incorporating DOGE into additional apps, DogeOS seeks to connect the Dogecoin community with on-chain innovation. This bullish news, however, barely had an impact on the price of the OG meme cryptocurrency.
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Dogecoin Price Prediction
It looks like the asset will be taking it slow over the next couple of days. The world’s largest meme coin will drop even lower from its current price during mid-May. According to CoinCodex, Dogecoin will be priced at a low of $0.159001. This marks a notable downfall from its current price level. The meme coin will carry on its current trend throughout the month. The community could see the meme coin rise to a notable level during the end of May.
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