DOGE

DOGE AI Trading (Date: 2025/04/02 02:01 UTC) summarizes the decision background.

Technical Analysis

Recently, the price of DOGE coin has been clearly declining on the 300-day chart. Looking at the pattern over the last 30 days, the price has hit resistance levels several times, indicating selling pressure. The MACD indicator shows a downward trend, and the RSI has frequently entered the oversold zone. Currently, the RSI is hovering below 30, which suggests a possibility of a short-term rebound, but overall, there are concerns about the continuation of the downtrend. Additionally, the 50-day moving average is below the 200-day moving average, making it difficult to expect a significant upward trend even if a short-term recovery occurs. Therefore, it seems advantageous for traders to maintain short positions. In particular, the recent surge in trading volume has accelerated the downtrend, which is interpreted as a signal of increasing selling pressure.

Summary of External Factors

Recently, the sentiment towards DOGE coin and the entire cryptocurrency market has been depressed. The uncertainty in the global economy and the continued news of interest rate hikes are prompting investors to withdraw from risky assets. In particular, altcoins like DOGE are highly volatile, requiring more caution. Moreover, in a market where the influence of social media and celebrities still exists, analyzing recent trends shows that there are few positive events, leading investors to react to selling signals. Therefore, it is likely that the entry of new investors will decrease in the future, and existing investors will continue to sell in order to minimize losses. Ultimately, these factors are having a significant impact on the current price decline of DOGE coin.