Dogecoin (DOGE) is facing bearish pressure along with the broader cryptocurrency market, as indicated by a bearish crossover between the Market Value to Realized Value Ratio (MVRV) and the 30-day Simple Moving Average (SMA). This suggests that DOGE may experience a price correction. A trading expert predicts that DOGE could drop to $0.20 if the $0.31 support level fails. However, another analyst suggests that DOGE may be preparing for a bullish turnaround, as the Relative Strength Index (RSI) shows a bullish divergence. Despite recent positive news, such as the launch of a Dogecoin Trust by Grayscale, DOGE has failed to react and its price has declined. The current technical setup for DOGE remains bearish, and investors should expect further downward momentum. DOGE is currently trading at $0.30.



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