DOGECOIN COLLAPSES AND CRUSES LONG POSITIONS!

Dogecoin's recent price drop has led to a collapse, crushing long positions. The current price of Dogecoin is $0.20, with a 2.29% increase in the last 24 hours. However, the price has been on a downward trend, with some analysts predicting further declines.

Key Factors Contributing to the Decline:

-Broader Market Selloff: The cryptocurrency market has been experiencing a downturn, with major altcoins like Solana suffering significant losses.

LIBRA Token Failure: The collapse of the LIBRA token, promoted by Argentine President Javier Milei, has created widespread skepticism in the memecoin sector, contributing to the decline in Dogecoin's value.

Technical Analysis: Dogecoin's price chart shows a descending triangle pattern, which is generally considered bearish. The Relative Strength Index (RSI) has also dipped to 29, indicating oversold conditions .

Potential Price Targets:

Support Levels: $0.096 and $0.072 are potential support levels that could help stabilize the price.

Resistance Levels: $0.182 and $0.206 are key resistance levels that Dogecoin needs to break through to signal a potential trend reversal.

Market Sentiment:

- Whale Accumulation: Despite the downturn, crypto whales are accumulating Dogecoin, with a 41% surge in large transaction volume.

- Bullish Predictions: Some analysts predict a potential breakout, with price targets ranging from $0.237 to $1.07 in the long term#BTCBreaksATH #DOGECOİN #USCryptoWeek #USCryptoWeek #TradingStrategyMistakes $DOGE