Dogecoin (DOGE) Price May Drop Soon

Despite a 7% price increase in the last 24 hours, Dogecoin's overall market sentiment remains negative. The token's weighted sentiment score is -0.404, indicating a bearish trend. This score measures the overall feeling of the market towards DOGE, and a negative score means investors are feeling negative.

Additionally, the number of open futures contracts on exchanges has been decreasing since May 8, indicating a lack of interest from investors. This decrease in open positions could lead to a price drop.

The weekly chart shows a bearish indicator, suggesting a potential price drop below $0.1, with a possible support level at $0.08. However, if the bulls regain control, the price could rise towards $0.17.

Overall, the market is highly volatile, and significant price fluctuations are possible. Investors should be cautious and keep an eye on market trends."

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