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 Dogecoin experienced a significant decline on Tuesday, losing nearly a quarter of its value, falling back to the $0.19 mark after its recent streak of gains faded. Traders noted that the decline stemmed from the coin’s failure to hold the $0.23 to $0.24 range and fell below a short-term ascending channel that had provided support since early October. Technical weakness intensifies Judging from the trend of the daily chart, the momentum of Dogecoin has significantly weakened. After losing the key position of $0.22, the decline further accelerated, sending the price to its lowest level in more than three weeks. Currently, the 20-day and 50-day moving averages converge around $0.23, forming upper resistance. Additionally, the Parabolic SAR has issued a bearish signal, which most traders believe confirms that the recent uptrend has come to an end. If the buyer's power cannot stabilize the price above $0.20, the subsequent decline may further test the $0.17 to $0.18 range - an area that attracted a large amount of funds to enter the market in late summer. If it clearly falls below this support range, the $0.12 mark may once again become the focus of market attention. On the other hand, a re-establishment of $0.22 could be seen as the first positive sign that buyers are trying to push the price higher, and could lead to a further push towards the $0.25 level.  The flow of funds on the chain issues a warning Exchange traffic data shows that a large amount of Dogecoin was transferred out of the trading platform on October 14. According to reports, the amount of outflows that day was close to $57 million. Such large-scale outflows typically mean holders move tokens from exchanges to custodial wallets or distribute them. In this context, market participants mostly interpret capital movements as biased selling pressure rather than new buying signals. While discussion about Dogecoin’s prospects remains active on social media, it has not translated into sustained inflows. Overall, the meme currency sector has shown weakness in recent trading days. “House of Doge’s merger draws attention At a time when market volatility is intensifying and the overall environment is sluggish, “House of Doge” announced plans to merge with Brag House Holdings Inc. with the intention of building a public listing platform within the Dogecoin ecosystem. The combined entity will reportedly hold 837 million Dogecoins and have $50 million in cash for investments. Although the news once boosted online sentiment, its boost to currency prices was short-lived due to the weakness of the market. The combined group plans to develop areas such as tokenization, income-based products and payment tools. Its supporters said that this strategy is expected to attract more institutional attention to Dogecoin. Short-term trends focus on the $0.20 defense line Short-term traders generally believe that $0.20 has become Dogecoin’s current key structural and psychological support level. If an effective defense can be formed at this position, it may trigger speculative buying. However, if market liquidity fails to increase significantly, any rebound may be capped by the $0.23 to $0.24 resistance zone. Brothers, gather here quickly! Group content: 1. Seizing the opportunity to build a warehouse in the future can allow many people to cross class again in the bull market! 2. Copycat spot opportunities, real-time sharing of bands and long-term strategies! 3. Now that the market is active again, it definitely needs new star sectors and currencies to detonate a new bull market. If you catch one, you will make a lot of money, and if you catch a few, you will make a lot of money! Reply "Join group" in the background to join the community. Scan the QR code to join the community! VX：jmay1180  Penguin (QQ): 3481931871  |
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