Dogecoin (DOGE) price is facing strong headwinds from the ongoing slump in the crypto markets. The biggest cryptocurrency, Bitcoin, is struggling to break above the $26,000 level. There is an increased selling pressure on altcoins in general and memecoins in particular. On Monday, the DOGE coin is trading at $0.061, down 0.49% till press time. The strength or weakness of Bitcoin dictates the altcoin price action. As BTC remains stuck within a very narrow price range, altcoin investors have become more cautious. Many analysts are calling for a deeper correction in digital assets due to the increasing strength of the US dollar. However, when it comes to the memecoins like Dogecoin, the fundamentals don’t mean a lot.