Dogecoin had to face a sharp decline in the last 10 days, erasing a large part of the profits of investors. The same part has lost nearly $ 8 billion in market capitalization, an impact on the feeling of the market and the increase in skepticism.
This uncertainty could delay the collection of Dogecoin while prudent investors hesitate to reintegrate the market.
Dogecoin loses his support
Open interest in Dogecoin fell Significantly, a drop of $ 1.2 billion last week. It increased from $ 5.05 billion to $ 3.85 billion, highlighting the lack of confidence of merchants. The drop in prices sparked an exodus of the future The market as traders has closed their positions to avoid new losses.
This retirement from the term exchange suggests that investors are waiting for a more stable market before placing new bets. With lower open interest, speculative activity around Dogecoin has slowed down.
Dogecoin’s global macro momentum reflects the lowering feeling that has extended beyond the derivative market. The Chaikin monetary flow indicator (CMF) remains below the zero line, signaling low inputs.
This suggests that investors do not want to commit new capital, further delaying a potential price recovery.
The absence of entry into the cash market reinforces the vulnerability of Dogecoin. Merchants continue to refrain from risking the funds, keeping the meme piece in a tight range. Until the entries increase, Doge may find it difficult to start upwards.
Doge pricing: resume momentum
Dogecoin price has dropped Almost 15% in the last 10 days, now negotiating $ 0.33. The room even tries to guarantee the support of $ 0.32. Maintenance of this level is essential to prevent new drops and stabilize prices.
Skepticism of investors and low market confidence could prolong the consolidation of DOGE. If the feeling does not improve, the meme piece can remain below the barrier of $ 0.36. In this scenario, Dogecoin could also become vulnerable to a drop below $ 0.30.
However, if Dogecoin manages to switch $ 0.36 in a level of support, it could invalidate the lowering perspectives. Excess beyond this resistance could define Doge Path, pushing his price to $ 0.39, which would help him recover part of his recent losses.
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