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Dogecoin falls 18% ahead of SpaceX IPO amid crypto market weakness and low trader confidence

Market News
06 Jun 2026
Tokenpost
View Source
Bearish
pluang ai news

Dogecoin (DOGE) dropped 18% from June 1 to June 6, hitting its lowest since February 2024 at around $0.07. This decline occurred despite expectations that SpaceX's upcoming IPO on June 12 might boost DOGE, due to Elon Musk's past association of Dogecoin with SpaceX missions. The broader crypto market weakness, triggered by Bitcoin falling below $60,000, caused widespread selling pressure. Trader confidence in DOGE is low, with futures open interest and ETF inflows declining, while technical indicators suggest continued bearish momentum. Investors will watch if oversold conditions prompt a rebound or if DOGE falls further after the IPO.

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