Dogecoin Drama: Will It Bounce Back or Just Keep Barking? 🐶💸

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  • So, Dogecoin might just bounce back because BTC decided to play nice and climb above $106k. Who knew?
  • Even though the MVRV ratio is throwing a tantrum, Dogecoin is in a distribution phase. Low bullish confidence? More like no confidence! 🙄

Last week, Dogecoin [DOGE] had a bit of a meltdown when it hit a wall at $0.2. Oops! Now it’s sulking at $0.17. Meanwhile, Bitcoin [BTC] decided to flex its muscles, jumping from $105.6k to $108.4k. A whopping 2.72% gain! 🎉

More gains could be on the horizon, but let’s be real—the macroeconomic situation looks as cheerful as a rainy Monday. And those Middle East tensions? Still unresolved. So, what’s a memecoin to do? Spoiler: it’s still looking bearish for long-term investors. 😬

According to a recent report by AMBCrypto, altcoins are in a state of eager anticipation. The perpetuals market is buzzing like a beehive! About 70% of altcoins are feeling optimistic, while 60% of large-cap traders are leaning long. They’re all waiting for a recovery after last week’s liquidation drama. 🎭

But should DOGE traders join the party and shift their bias to bullish? 🤔

Dogecoin: Still the Grumpy Cat of Investments

Crypto analyst Ali Martinez took to X to share that the TD Sequential is flashing buy signals on Dogecoin’s 12-hour chart. But hold your horses! The HTF bias is still as bearish as a rainy day in London. ☔️

With selling pressure on the OBV and the RSI looking like it just lost a fight, breaking past $0.2 is going to be tougher than getting a cat to take a bath. 🐱‍👤

Looking at the behavior of Dogecoin holders who are still in their crypto diapers (six months or younger), it’s clear we’re in a distribution phase. The mean coin age is trending down faster than my motivation on a Monday morning. 📉

This downtrend means Dogecoin is being passed around like a hot potato, likely for selling. And those dormant circulation spikes? Just a sign of on-chain activity that’s more chaotic than a toddler’s birthday party. 🎈

Meanwhile, the 180-day MVRV ratio is still negative, even as our beloved memecoin enters a distribution phase. Yikes! This could be a red flag for investors. Sure, traders might want to go long thanks to the TD Sequential and Bitcoin’s bounce, but investors? They should probably keep their eyes peeled. 👀

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2025-06-17 11:39