๐ถ Dogecoin (DOGE) Faces Potential 20% Drop! ๐จ
๐ Recent Activity Signals Trouble:
A whale transferred 146.6M DOGE ($56.5M) to Robinhood, creating sell pressure that could lead to a price dip.
DOGEโs inverted hammer candlestick pattern at the $0.42 resistance signals bearish momentum.
๐ Key Levels to Watch:
If DOGE stays below $0.42, it could drop to $0.35 (-20%).
The 200-day EMA indicates an overall uptrend, but the short-term outlook remains bearish.
๐ On-Chain Insights:
Coinglass data shows a long/short ratio of 0.78, the lowest since November 2024.
56% of traders hold short positions, signaling bearish sentiment.
๐ญ Whatโs next for DOGE? A rebound is possible, but it must break $0.42 to regain bullish momentum.
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