The cryptocurrency market is in turmoil, with Bitcoin's price fluctuations sending shockwaves through the altcoin market, including Dogecoin (DOGE). As BTC struggles to find its footing, DOGE has plummeted to a three-month low, raising concerns about its future prospects.

DOGE's price has taken a significant hit, plummeting to $0.12 due to the rapid decline in BTC. This sudden drop has triggered a massive sell-off, with long positions worth over $44 million being liquidated. This is the largest DOGE liquidation this year, indicating a clear lack of investor confidence in the meme coin.

The current market trend suggests that DOGE's downward spiral may continue, with the Elder-Ray Index hinting at a potential further decline. If the bears maintain their grip, the price could drop to $0.11 or even $0.08. However, if BTC regains its strength and closes above $66,250, it could boost investor confidence and lead to a recovery in DOGE.

In this scenario, investors may view the current sell-off as a buying opportunity, potentially driving the price up to $0.13 or $0.18. Historical data suggests that such price movements are not uncommon, and experienced investors are likely to take a cautious approach before making any investment decisions.

In conclusion, Dogecoin's price drop is a reflection of the current market volatility. While the future looks uncertain, investors are advised to exercise caution and consider historical trends before making any investment decisions. Will DOGE bounce back from this free fall, or will it continue to slide? Only time will tell.