Dogecoin

bullish

<ul>
 <li>DOGE's price dropped 0.9%, despite Musk's legal victory.</li>  
 <li>Social media interest and active addresses for DOGE are rising.</li>  
 <li>Market sentiment leans bearish, but a shift to bullish is possible.</li> 
</ul>  
Despite the news about <a href="https://cryptonewsland.com/elon-musk-and-tesla-secure-legal-victory-in-dogecoin-doge-manipulation-case-another-win-for-crypto/" target="_blank" rel="noopener noreferrer nofollow">Elon Musk's legal victory</a> over a potential lawsuit involving the coin, DOGE's price fell by 0.9% in the past day, settling at $0.10.&nbsp;  
This drop has left many investors scratching their heads. Analyzing DOGE's on-chain metrics reveals a mixed picture, with uncertainty still hanging in the air. While the coin continues to consolidate, a move to $0.13 could happen if conditions shift.  
<h2 class="wp-block-heading" id="h-social-media-buzz-and-active-addresses">Social Media Buzz and Active Addresses</h2>  
Recent data from <a href="https://santiment.net/" target="_blank" rel="noopener noreferrer nofollow">Santiment</a> shows DOGE’s social dominance has spiked to a three-month high. This suggests that the cryptocurrency is drawing substantial attention on social media.&nbsp;  
Positive discussions around DOGE are outweighing the negative, which could hint at potential bullish momentum. On the other hand, active addresses for Dogecoin have reached a two-week peak.&nbsp;  
This uptick typically indicates growing user engagement. However, despite these positive signs, DOGE's price has remained largely stagnant over the past few days.&nbsp;  
This stagnation suggests the market is still undecided. Investors are likely waiting for more significant news before making major moves.  
<h2 class="wp-block-heading" id="h-technical-analysis-market-sentiment-and-price-predictions">Technical Analysis: Market Sentiment and Price Predictions</h2>  
A look at the 30-day <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">Coinglass Liquidation Heat Map</a> reveals a market leaning towards bearish sentiment. Currently, there are more Shorts than Longs, with notable sell and buy walls at $0.1023 and $0.0925.&nbsp;  
This setup indicates a bearish outlook, with sellers likely to have the upper hand. Yet, the gap between Shorts and Longs is narrowing. This suggests that sentiment might shift to bullish soon, potentially pushing <a href="https://cryptonewsland.com/10-doge-price-bullish-historic-patterns/" target="_blank" rel="noopener noreferrer nofollow">DOGE’s price</a> to $0.13.  
Further analysis of Coinglass data on open interest shows traders are closing their long positions. This behavior often signals a bearish trend, as closing longs frequently leads to increased short positions. 
The post <a href="https://cryptonewsland.com/doge-price-falls-bullish-turn-possible/" rel="noopener noreferrer nofollow">DOGE Price Dips 0.9%: Is a Bullish Turn on the Horizon?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

DOGE Price Dips 0.9%: Is a Bullish Turn on the Horizon?

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