Dogecoin: Explaining Why DOGE Could Fall 25%
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- DOGE’s bearish thesis only holds if a daily candle closes below the $0.30 mark.
- Currently, 58.3% of top DOGE traders are holding short positions.
Dogecoin [DOGE], the most widely recognized meme coin, is currently experiencing a notable decline in price due to the development of a bearish price action pattern.
On December 26, the broader cryptocurrency market—including Bitcoin [BTC], Ethereum [ETH], and XRP—suffered significant losses, contributing to a shift in market sentiment toward bearishness.
The data indicates that key factors influencing DOGE’s bearish outlook include overall negative market sentiment combined with trader behavior and ongoing bearish price movements.
Dogecoin Technical Analysis and Key Levels
The latest technical analysis from AskFX suggests that DOGE is on the verge of breaking out from a minor consolidation zone formed after it was unable to maintain support at $0.35.
This recent drop has pushed the memecoin down to the lower boundary of this consolidation zone at around $0.30.
Source: TradingView.
If DOGE fails to maintain this lower boundary and wraps up its daily candle below $0.30, analysts predict it could plummet by as much as 25%, potentially leading prices down to approximately $0.22.
DOGE can only uphold its current bearish scenario if it ends the daily session below $0.30; success above this level would signal resilience against further declines.
DOGE’s Bearish On-Chain Metrics
The current negative momentum has shifted traders’ perspectives drastically. According to Coinglass, DOGE’s long/short ratio stood at just 0.71 during peak trading times—its lowest since December 2024.
Ratios falling beneath one indicate pronounced levels of bearish sentiment among traders Currently ,58 .3 %of major doge traders are positioned short ,while41 .7 %are maintaining long bets Over time these observations hint that alongside immediate trader negativity some long-term investors seem inclined towards purchasing doge on exchanges able “.
Now readings from inflow-outflow statistics confirm an exceptional movement revealing exchange constructs chart transactions marked total outflow worth$32 .75 million The sheer magnitude suggests prospective upside energy pointing towards buying opportunities .
Read Dogecoin [DOGE] Price Prediction for years ahead (2024–2025)
Current Market Dynamics for Doge b > h2 >
At present state reports show doge hovering near$ 315 Reflecting cautious downticks 箭向 高达6 .89%In preceding day durations Trading volume underwent13 percentage decline noted amid investor uncertainty tied risk crash points fear 本段
加油对于更真实的看法
输出结果 更多信息在外部科技文献
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