Dogecoin sentiment has once again fallen into the negative. Is it time to buy or sell?

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On Tuesday, cryptocurrency analyst Ali Martinez announced on X (formerly Twitter) that the market sentiment for Dogecoin has turned negative, indicating a shift in investor confidence in this meme coin.

Many in the cryptocurrency market are concerned about the recent changes in market sentiment due to the significant consolidation of Dogecoin's price. However, cryptocurrency analyst Cephii believes that this consolidation could catalyze a substantial price increase for Dogecoin.

The analyst stated, "The longer we consolidate here, the bigger the crack will be." This suggests that once the consolidation for Dogecoin ends, it may experience an explosive price increase. According to his price chart, the analyst predicts that once Dogecoin breaks through the key resistance area, its price could rise to $0.8.

Furthermore, Cephii pointed out that Dogecoin's social metrics remain strong. This may be because, despite the negative shift in market sentiment, there is still sustained bullish sentiment within the Dogecoin community.

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