Cryptocurrency markets witnessed a plunge on Wednesday as the meme currency Dogecoin (DOGE) and Polygon (MATIC) tumbled to new lows. The global crypto market cap has dropped by as much as 3%, as the DOGE dropped to its lowest level in 5 days, while MATIC saw its weakest point since last Thursday.
Dogecoin (DOGE)
Dogecoin saw a sharp decline, dropping by more than 5%, to hit a key support level. The DOGE/USD pair dropped to an intraday low of $0.08245 and a low of $0.08919 was seen. The current drop has caused the transfer noticed dogecoin to reach its lowest level since 19 January.
The 14 day RSI collided at 55.00 with a help level of its own, while the 10-day transferring common in (crimson), reversed its route and appears to be on its way to a downtrend. This could end with a crossover, indicating a higher probability of DOGE trading below $0.080.
Polygon (MATIC)
Polygon (MATIC) saw a third consecutive day of decline, falling below the $1.00 mark. The MATIC/USD pair dropped to a low level of $0.938 today, and trading was possible at $0.940, which was the token’s weakest point since last Thursday.
