Why $DOGE Coin Going Down in Recent Bull Market
DOGE futures show growing indecisiveness
Dogecoin’s price decline today accompanies signs of extreme indecisiveness in its futures market.
For instance, since Trump’s win on Nov. 6, DOGE experienced total liquidations amounting to approximately $63.83 million, including $32.31 million in short liquidations and $31.61 million in long liquidations — almost the same.
DOGE faces extreme correction risks — fractal
Dogecoin’s price decline today is part of a correction that started after its price tested a critical resistance area.
This resistance zone (red) has acted as a ceiling for DOGE’s price since November 2021, marking a point where upward momentum consistently stalls. Today’s rejection represents the 15th weekly attempt to break above this critical level.
Each previous test of this resistance area has resulted in notable corrections ranging from 60% to 80%, suggesting a pattern where sellers gain control once the price reaches this threshold.
DOGE’s inability to close above the resistance increases the probability of a similar corrective move in the coming weeks, with the 50-week EMA (the red wave) at around $0.120 being the likely downside target for 2025.
Conversely, a clear breakout above the resistance zone—probably led by Trump’s pro-crypto measures and hype surrounding Elon Musk’s Department of Government Efficiency (D.O.G.E.) will likely push Dogecoin price toward the November 2021 resistance target of around $0.221 in 2025.
#USInflationAboveTarget #MemecoinWars #PEPEATH