Dogecoin’s Doom: 18% Plunge Looms – Will the Shibe Survive? 🐶💸

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Oh, the Woes of the Cryptic Canine!

What Fate Awaits Our Dear Dogecoin in the Short Term?

Alas, despite whispers of accumulation on-chain, the poor shibe seems destined for another 18% tumble into the abyss. 🌪️🐕

But Why, Oh Why, Must This Misfortune Befall Our Beloved Coin?

Behold, the OBV hath fallen lower than a drunken bureaucrat’s dignity in August – a dire omen of October’s selling frenzy. 📉💨

Ah, Dogecoin [DOGE], thou hapless hound of the crypto realm, hast suffered a bearish blow these past 24 hours. As Bitcoin [BTC] briefly stumbled to $106.3k, only to bounce back with the grace of a startled cat, DOGE plummeted to $0.176 on the fateful Thursday, 30 June. 😱🐶

A 9.34% slide from the day’s lofty $0.194! At the quill’s stroke, our shibe exhibited a bearish sentiment so strong, Open Interest dropped 3.55% in a single day. Yet, the bulls, with tails between their legs, managed to defend the $0.175 demand zone. For now. 🐂🛡️

The Fateful $0.178 and the Ominous Warning for Dogecoin’s Bulls

Bitcoin, that fickle tsar of the markets, hath been confined to a range since August, from $124.5k to $107.5k. Its recent plunge below this range doth hint at a bullish rebound, should spot demand roar like a bear in spring. 🐻💪

Thus, our shibe too may rebound, but oh, how it hinges on the whims of capital inflows in the days to come! Though the $0.175-$0.185 demand zone hath been defended, the selling pressure looms like a nosy neighbor. 🏰💨

Lo, the OBV hath formed a new low, beneath its August baseline – a testament to the overwhelming selling volume. ’Tis but a matter of time ere the bulls succumb to this torrent. 🌊🐂

Should DOGE fall below $0.175, the next support lies at the $0.15-level, the base of the rising wedge pattern born in June. A pattern, alas, as unreliable as a Gogol protagonist’s resolve. 📉🔮

Daily active addresses, like the spirits of a haunted dacha, have waned in October, hinting at a lull in network activity and organic demand. Yet, the mean coin age hath risen these past two weeks – a glimmer of on-chain accumulation amidst the spot selling. 🕵️‍♂️💎

The age consumed metric, too, hath spiked, though not with the fervor of a Gogol feast. Yet, these signs, though encouraging, are but a feeble candle against the selling spree’s tempest. 🕯️🌪️

Thus, a bearish bias prevails, and a drop to $0.15 seems as inevitable as a nose in the middle of one’s face. Prepare, dear reader, for the shibe’s next act in this absurd crypto drama! 🎭🐶

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2025-10-31 10:19