Telegram ID: @Vipkhoone_manager

Dogecoin (DOGE) Correction Remains Due Amid Waning Optimism

Crypto Leak 140 Best Vip channels of the world

Dogecoin (DOGE) Correction Remains Due Amid Waning Optimism


In Brief

  • Dogecoin’s price, despite the short-term recovery, is still vulnerable to further corrections on the daily chart.
  • The investors have been pulling back from the meme coin, which is evident in the OI dropping by 1 billion.
  • Their optimism has been missing since the beginning of the month and could stay that way for some time.

Dogecoin (DOGE) price could soon incur further losses as investors remain skeptical.

Indeed, the meme coin’s investors are largely pessimistic, without increasing investments.

Dogecoin Loses Support

Dogecoin’s price falling below $0.15 accelerated the decline, bringing the doge-themed token to $0.131 at the time of writing. The meme coin is attempting to secure the support of $0.127, a level that has been tested numerous times in the past.

However, it might face some struggle as DOGE will likely drop back soon owing to investors’ waning support.

Over $1 billion has been removed from the Futures market in the last three weeks. Indeed, Dogecoin’s Open interest (OI) dropped from $1.6 billion to $667 million in the span of 20 days. This metric represents the total number of outstanding derivative contracts held by market participants at any time.

Dogecoin Open Intere
Dogecoin Open Interest. Source: Coinglass

Investors’ actions fall in line with their sentiment as well. Since the beginning of April, DOGE holders have exhibited largely pessimism towards the meme coin. The crypto market conditions and the lack of bullish cues within the Dogecoin network have pulled investors towards bearish expectations.





Get to know Godleak

Godleak crypto signal is a  service which provide profitable crypto and forex signals for trading. Godleak tried to provide you signals of best crypto vip channels in the world.

It means that you don’t need to buy individual crypto signal vip channels that have expensive prices. We bought all for you and provide you the signals with bot on telegram without even a second of delay.

Crypto leak

Godleak crypto leak service have multiple advantages in comparision with other services:

  •  Providing signal of +160 best crypto vip channels in the world
  • Using high tech bot to forward signals
  • Without even a second of delay
  • Joining in +160 separated channels on telegram
  • 1 month, 3 months , 6 months and yearly plans
  • Also we have trial to test our services before you pay for anything

For joining Godleak and get more information about us only need to follow godleak bot on telegram and can have access to our free vip channels. click on link bellow and press start button to see all features


Join for Free


Also you can check the list of available vip signal channels in the bot. by pressing Channels button.




This is visible in the weighted sentiment, which has been negative for nearly the past month.

Dogecoin Investors' Sentiment.
Dogecoin Investors’ Sentiment. Source: Santiment

DOGE Price Prediction: Failing the Hold

Dogecoin’s price in the short-term timeframe is stuck within a falling wedge. However, this bullish pattern was invalidated after DOGE fell through the lower trend line and received support of $0.127. While the meme coin did recover, it will potentially slip back soon.

The altcoin will likely fall to $0.116, which could create the conditions for a further decline to $0.105. This is the potential outcome on the 4-hour chart.

Dogecoin Price Analysis.
Dogecoin Price Analysis. Source: TradingView

However, a successful retest of $0.127 could give Dogecoin’s price a shot at securing the recovery. If DOGE does so and rises to breach $0.140, it could test the resistance at $0.151, invalidating the bearish thesis and enabling further rise.

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *