Why is Dogecoin going down?

There are various reasons for the decline in the price of Dogecoin. There are general sell-offs in cryptocurrencies that seem to be weighing on DOGE. Dogecoin is also being challenged by fellow meme cryptocurrencies like Shiba Inu, Floki Inu and others. Also, as a cryptocurrency meme, Dogecoin needs regular social media support, and the absence of such support negatively affects the price, which begins to stagnate.