Dogecoin (DOGE) has been a bit quiet lately, staying below $0.20 since Saturday, resembling a well-behaved 'Shiba Inu' 😴. In the short term, it has established a small range around $0.186, as if it's gathering strength for the next move.

However, last week's decline was quite severe, hitting rock bottom. By Tuesday, it even broke below the support level of $0.186, making it seem like it was 'over' 😨. Instead, this triggered a wave of short covering (simply put: those who shorted panicked and rushed to cover their positions), which brought the market back to life and released an optimistic signal 📈.

🧐 To summarize:

Although DOGE looks weak, it is actually doing a 'fake fall'.

Once the shorts withdrew, the technical situation improved instead.

Next, the focus should be on whether it can stay above $0.20 for bulls to continue performing 🐕🚀.