Dogecoin's (CRYPTO: DOGE) sharp 21% decline has raised alarms among traders and investors, as it struggles to maintain key support levels critical to preventing a further downturn.
Cryptocurrency
Price
Market Cap
24-Hour Trend
7-Day Trend
Dogecoin (CRYPTO: DOGE)
$0.2867
$42.2 billion
-21.2%
-29.3%
Shiba Inu (CRYPTO: SHIB)
$0.00001987
$11.7 billion
-17.9%
-29%
Pepe (CRYPTO: PEPE)
$0.00001987
$6.5 billion
-19.7%
-34.5%
Trader Notes: Crypto trader Kevin recalled his controversial Nov. 13 prediction that Dogecoin would drop to $0.26–$0.28, which has now come true.
Despite criticism, Kevin maintains his view that DOGE will eventually rebound from these levels to target new all-time highs, though not without enduring a significant correction first.
Kevin explained that on the weekly timeframe, Dogecoin appears to be undergoing a typical bull market pullback, following an earlier golden cross (a bullish technical indicator) that lacked an initial correction.
He noted Dogecoin's history of enduring multiple 50% corrections during prior cycles.
A 45% pullback to macro support within the golden pocket could align with past trends and indicate a continuation of the uptrend.
However, Kevin emphasized that if DOGE closes below $0.26 on the weekly chart, it could signal serious structural issues in the market. Until then, the current decline is being viewed as a normal bull-market retracement
Statistics: Coinglass data shows total liquidations in the past 24 hours stand at $85.7 million with a majority of $71.6 million being long liquidations.
DOGE derivatives trading saw a 75% spike in volume, while open interest dropped 33.3%, indicating waning investor interest in the meme coin.
Dogecoin Down Another 4% As Sentiment Sours: What Is Going On?
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
Kevin explained that on the weekly timeframe, Dogecoin appears to be undergoing a typical bull market pullback, following an earlier golden cross (a bullish technical indicator) that lacked an initial correction.
ケビンは、週足のタイムフレームでドージコインが通常の強気市場の調整を経験しているように見え、以前のゴールデンクロス（強気のテクニカル指標）が最初の調整なしに進行したと説明しました。