Recently, the price of Dogecoin (Doge) is under significant pressure. In particular, the collapse of the breast coin Lilbra breast coin project initiated by Argentina President Javier Milei, led to fluctuations in the breast coin market. Following this incident, the Dogge price has decreased by 3 %in the last 24 hours. Technical analysis warns investors that a greater decrease may come.
Death Cross and MVRV ratio gives decrease signals
Crypto analyst Ali Martinez drew attention to the “Death Cross” formation between Dogecoin’s MVRV ratio and 200 -day moving average. This technical formation is usually considered as a strong decrease signal. According to Martinez, this intersection shows that the Doge price may decrease to $ 0.15 with a decrease of up to 44 %. Such technical indicators help investors understand market trends and allow them to in advance the potential risks.
In addition, Coings data shows that there is a 5.27 %decrease in open positions of Dogan Futures. In the last 24 hours, the liquidation of $ 3.57 million, mainly from long positions, has been realized. These data show that investors are cautious in current market conditions and close their positions.
General pressure and future expectations in the breast coin market
The collapse of the LIBRA breast coin project negatively affected not only Dogecoin, but also other breast coins such as Shiba Inu. This event, shaking the trust of the investor, led to a general sales pressure in the breast coin market. Investors should not forget that such projects are at high risk and may lead to sudden loss of value. However, some investors are hopeful of the future of Dogecoin. The US Securities and the Stock Exchange Commission (SEC), Grayscale’s acceptance of the DOME ETF application created a positive atmosphere in the market.
This development may increase the interest of corporate investors’ interest in Dogecoin and have a positive impact on the price in the long run. However, technical indicators and market conditions in the short term show that investors should be cautious. As a result, Dogecoin investors should closely monitor existing technical analysis and market development. In particular, decrease signals such as “Death Cross iyor indicate potential risks. It is important that investors make conscious decisions by reviewing risk management strategies.
