Dogecoin price forms scary patterns as DOGE ETF drought continues

💡 DMK Insight

Dogecoin’s drop to $0.12 signals a critical moment for traders: With the price hitting its lowest since early October, the lack of ETF developments is weighing heavily on sentiment. The 75% decline from its peak indicates a significant loss of momentum, and technical indicators suggest further downside could be on the horizon. Traders should keep an eye on support levels around $0.10, which, if breached, could trigger more selling pressure. But here’s the flip side: if DOGE can hold above this support, it might attract bargain hunters looking for a rebound. Watch for volume spikes that could indicate a shift in sentiment. In the broader context, this downturn could also affect related assets like Shiba Inu (SHIB), which often moves in tandem with DOGE. As we approach the end of the month, any news on potential ETF approvals could change the game, so stay alert for developments that could shift the narrative.