🚨 Attention Dogecoin (DOGE) holders! Potential risk of a major drop is imminent!

Recently, Dogecoin may face a significant drop of up to 20%. Here are two key factors that could lead to a price crash:

1️⃣ Massive selling pressure from Robinhood

Robinhood exchange recently sold approximately 146.6 million DOGE, worth about 56.5 million USD, while also transferring over 61 million DOGE. These actions may signify that the market could face even larger-scale selling pressure.

2️⃣ Technical indicators suggest downside risk

DOGE's technical chart displays a "inverted hammer pattern," which indicates increased downward pressure. If the price falls below $0.28, it may further drop to $0.21, with a possible decline of 20%.

Is there a possibility of a rebound?

Despite the dire situation, there are still some supports that may help the price avoid further decline:

• 200-day moving average support: Currently, the DOGE price is maintaining above the 200-day moving average, which could provide short-term support for the price.

• Market sentiment analysis: Data shows that the long-short ratio of DOGE has dropped to 0.78, marking a one-month low. Although bears dominate, 44% of long positions indicate that the market may see a rebound.

How should holders respond?

In the current complex market environment, DOGE holders need to make careful decisions:

• Should they choose to add positions or cut losses?

• Should they wait for a price rebound?

Friendly reminder:

Staying calm is crucial during periods of high market volatility. Always think twice before making decisions to avoid impulsive actions!

Finally, I would like to recommend a coin I’ve recently been paying attention to, the Elon Musk-themed pupp!,es. Keep an eye on it!