DOGE short-term bias is bearish. Current price is 0.08031, almost touching the intraday low, and there has been no significant rebound after the drop. Most of the forced liquidations today were long positions, with the amount of long liquidations several times that of shorts. The decline is mainly due to leveraged longs being passively exited, while the active shorting force is relatively weak. The problem is that after the longs are cleared out, no new funds come in to support, so the price can only grind slowly at a low level. The fee rate has been falling for three consecutive periods, which should be considered just background information. The chart shows volume expansion on the rise and volume contraction on the pullback, a pattern left from previous market phases; moving averages and volume are lagging indicators. Looking at today, the volume contraction on the decline looks more like no one is buying at the low, with support weaker than selling pressure. Most likely, the price will continue to test lower, and the intraday low of 0.08004 will not hold. The condition to turn bullish is to retake the 24-hour high of 0.08378, which would indicate real buying after deleveraging, then switching to long.
DOGE short-term bias is bearish. Current price is 0.08031, almost touching the intraday low,
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