Brothers, today I want to talk to you about the dynamics of Dogecoin. The current price is $0.20605, just swaying above the psychological level of $0.20, but still far from the core resistance area of $0.25-$0.26. In the short term, it has risen 3.5% in the last 24 hours, which can be considered a bit of a rebound, but it has dropped 10% on the weekly chart, indicating significant mid-term pressure. The trading volume in the past 24 hours is 1.35 billion, with Binance accounting for the majority, even higher than the peak in May; we will have to see if this volume can stabilize.

From a technical perspective, the hourly chart is being pressed by a descending channel and is currently stuck at the upper edge of the $0.20 channel; it needs increased volume to break out. The MACD on the hourly chart shows green bars appearing but lacks strength, and the 4-hour dead cross is still in place, with bears temporarily in control. The RSI is at 48, not weak but also not strong, indicating limited rebound potential. Short-term resistance is seen at $0.2086-$0.2104, and only a breakthrough of $0.25-$0.26 could potentially turn bullish; support is at $0.1940-$0.1980, and if it cannot hold above $0.1880-$0.1750, it may drop to $0.15.

There has been significant on-chain activity, with whales purchasing 1 billion coins in the last 24 hours, accumulating an additional 1 billion over the past month, holding an 18.5% share, which shows confidence from major holders. The DRC-20 craze has propelled daily transaction numbers to 650,000, surpassing Bitcoin and Litecoin, though much of it is speculative minting, making its practical use uncertain. New and active addresses have doubled weekly, indicating increased participation.

Sentiment is somewhat divided, with the Fear and Greed Index at 54 (neutral), and the long-short ratio at 1.97 (66% bullish), but open contracts have decreased by 1.05 billion, indicating ongoing deleveraging pressure.

In terms of trading, Morning Brother suggests shorting near $0.20625-$0.20675, first looking at $0.20178, and then possibly $0.19825 if it reaches there. Remember to control risk, don't hold positions, as the market changes quickly; a steady approach is more reliable. #doge