Dogecoin Faces Key Resistance as Short Pressure Builds — Breakout or Breakdown Ahead?
Dogecoin (DOGE) $DOGE is trading around $0.16 today after a recent drop, pressured by over $60 million in short positions near the $0.18 resistance. Analysts point to a bullish falling wedge pattern, suggesting a potential breakout if DOGE crosses $0.18 with volume. Futures trading remains active, with open interest rising slightly. A successful breakout could push prices toward $0.22, while failure to hold $0.15 support may lead to a dip to $0.12. The meme coin’s future hinges on upcoming market sentiment shifts and short squeeze potential. Traders are watching closely as DOGE tests critical technical levels this week.