Dogecoin is negotiated at key demand levels after two weeks of massive sales pressure, bears pushing more than 30%. The room sector was the hardest part during this market scale correction, which started in mid-January, and as a market leader, Dogecoin suffered the most.
Investors began to question the sustainability of the play rally, especially since the feeling continues to weaken in all areas. Glassnode metrics confirm this downward trend, revealing that the open interest of Dogecoin has dropped by 67% in the last three months.
Now DOGE at a critical level, traders look at if the bulls can intervene to maintain support and push higher prices. If the purchase of yield pressure, Dogecoin could start a solid rally of recovery, but if the trend continues, other liquidations and losses could follow. The next few days will be crucial because investors evaluate if Doge can recover or extend its drop in this volatile market.
Dogecoin faces a sale pressure
After breaking this week’s market, Dogecoin had trouble recovering key price levels and still faced a serious risk of additional cooling. The sector of the same part was one of the most difficult areas to rupture cryptographic space, analysts accusing the trading of speculative coins of memes as a key factor behind the correction of wider cryptography. While the feeling is weakening, Doge and other pieces of memes continue to lose ground, unable to recover from massive sales.
High -level analyst Ali Martinez shared data on glass nodes on X revealing that Dogecoin’s open interest has decreased by 67% in the last three months. The open interest has increased from a summit of $ 4.07 billion to only $ 1.33 billion today, stressing that traders have lost interest in Doge and that speculation has dried up. These data confirm the negative environment surrounding the parts even, and as a market leader, Dogecoin sets the tone for the whole sector of memes, which continues to fight.
For Doge to take momentum, the bulls must intervene and defend the main levels of demand. A break below the current support could cause even more sale pressure, while recovery of higher resistance levels could point out a potential recovery rally. With an interest and an open volume, Dogecoin remains in a critical position and in the coming weeks will determine whether the bulls can regain control or if the downward trend will continue.
DOGE
Dogecoin (DOGE) is currently negotiated at $ 0.21 after weeks of disappointing price action. The bears remain in control and the momentum continues to push the price into lower levels, which makes it difficult for bulls to recover the force. DOGE was in a regular drop -down trend, fighting to gain ground while meme parts are faced with increasing sales pressure across the market.
If the bulls want to regain control, Doge must exceed the level of $ 0.24 and maintain it as a support. The recovery of this level would point out short -term resistance and could trigger a rescue gathering to higher resistance areas. However, with the feeling of the market still lowering, an escape seems unlikely unless the overall conditions are improving.
Lower down, if Doge does not hold the current levels, a drop to $ 0.15 could be expected. This level represents important psychological and technical support, but losing it would put Doge in a Uncharted territory for this cycle. With an open interest in down and drying liquidity, the bulls must intervene soon, or the downward trend could accelerate.
The next few days will be crucial because Doge will try to stabilize or bleed. If market conditions remain low, additional drop pressure could push Doge to even lower demand areas.