Dogecoin price stumbles after public release of MyDoge wallet for iOS users

Dogecoin price tumbled in the recent crypto market bloodbath, posting 4% losses over the past day. Analysts have a bearish outlook on the meme coin, predicting a further price drop. 

Dogecoin price could continue downtrend as bloodshed continues

The recent bloodbath in crypto wiped out $200 billion from the market. Dogecoin price plummeted in the bloodshed, posting 4% losses over the past week. Dogecoin co-creator Billy Markus confirmed the launch of MyDoge, a wallet for iOS users. 

The wallet application supports transfers from any cryptocurrency exchange. Markus revealed that Dogecoin developers did not develop the application. Instead, an autonomous designer group worked on it. 

Clients running Apple devices can access Dogecoin through the wallet. The developers of MyDoge wallet have developed it as a “Social Wallet for the People’s Currency,” offering free, secure, and non-custodial services. 

Proponents expected the launch of MyDoge wallet to facilitate further Dogecoin adoption to fuel a bullish narrative for the meme coin’s price. However, the Dogecoin price failed to recover from the drop. 

Ukraine’s acceptance of Dogecoin donations further paved the way for users to utilize the meme coin. 

Analysts have evaluated the Dogecoin price trend and predicted that the meme coin could soar soon. @AltcoinSherpa, a pseudonymous crypto analyst, believes that Dogecoin is in the buy zone. 

FXStreet analysts have predicted that the Dogecoin price could plummet to $0.15. Analysts have observed that the Dogecoin price has been in a congestion zone for over 300 days now and argue that the equilibrium of time and price in the Dogecoin price chart implies a substantial move in the next 15 days.