$DOGE #Dogecoin [DOGE] was in an uptrend last month after breaking the $0.165 resistance and forming a series of higher lows.
However, a recent report stated that the Predominant Sentiment behind the meme token is negative.
Despite the performance over the last three weeks, the public does not appear to have accepted DOGE's bullish ambitions.
Volume saw a slight increase last week following strong price performance on Monday, May 20.
However, this volume increase was minimal compared to the rally in late February or even the gains in late March.
OBV, along with the price, recorded a series of higher lows in May.
However, this month it could not rise above the significant low peaks it formed in April due to its smaller transaction volume compared to previous months.
The RSI on the daily chart showed a value of 58, reflecting strong momentum. The price was knocking on the door of the 50% Fibonacci retracement level at $0.175 and it is expected to climb above this level soon.
Open Interest increased from $800 million to $931 million in the last 24 hours, with DOGE gaining nearly 8.5% in value.
This was evidence of the strong bullish sentiment of speculators and showed that they expected further gains.
Liquidations were also minimal in the last 24 hours. The volatility on the 24th led to the liquidation of a large amount of long positions.
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