Dogecoin (DOGE) has collapsed, falling over 30% from its year-to-date high of $0.48, reflecting an intensifying bear market sentiment in the cryptocurrency market. The market currently faces greater downward pressure. On December 18, a typical 'death cross' pattern appeared on the daily chart, with the 50-day moving average crossing below the 200-day moving average, which usually indicates that the market will enter a prolonged downtrend.

Currently, DOGE's key support level is at $0.28. If the downtrend continues, this support level may be breached, and the price could further decline to below $0.20. Should this occur, DOGE may face a longer bearish market test.

It is worth noting that Dogecoin, as a highly volatile asset, often experiences price fluctuations influenced by market sentiment, policy changes, and social media factors. Therefore, although the current situation leans towards pessimism, there remains uncertainty in the market. Investors should carefully assess the risks and make decisions based on their own investment objectives. #币安LaunchpoolBIO $DOGE