Dogecoin (DOGE) has experienced a 2.5% drop in the past 24 hours, with its value now at $0.072517. The coin has seen an 8% decrease in the past week and an 11% decrease in the last 30 days. In contrast, new meme coins such as SpongeBob (SPONGE) have seen significant gains, with SPONGE rising by as much as 9,000% since its launch at the beginning of the month. DOGE's chart indicates further losses to come, with its 30-day moving average dipping below its 200-day average and its support level falling below $0.075.

Despite a rise in trading volume to $600 million, DOGE is expected to drop to $0.070 in the next few days. The Dogecoin community remains hopeful that Twitter will introduce cryptocurrency payments, but there is no guarantee that DOGE will receive favored treatment. Meanwhile, SPONGE has attracted traders and investors with its recent rise and exchange listings, making it one of the most promising meme tokens to watch.