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Elon Musk Returns to DOGECOIN ( DOGE)— Why $0 50 Might Be Next #dogecoinnews #dogecoin

$Doge/daily #Dogecoin Bollinger BandWidth (BBW) has shown a bullish signal.

Buying $DOGE at/below the green. Keeping it simple.

Dogecoin (DOGE) has staged a modest 5% rebound following its crash to a September 2024 low. However, this recovery appears to be a facade, as key on-chain and technical indicators show waning network demand and long-term holders are using the bounce to offload their bags, putting DOGE at severe risk of a deeper correction. 1. Key Factors: Waning Demand and Holder Selling The brief recovery is undermined by two crucial on-chain metrics that point to bearish conviction: Declining Network Demand: The number of new addresses interacting with DOGE has dropped significantly, falling by 40% to just 18,251 new addresses. This sharp decline signals that the 5% price bounce is driven by short-term market relief, not genuine, fresh investor demand. Long-Term Holder (LTH) Profit-Taking: The Liveliness metric, which tracks the movement of long-held coins, has been steadily rising and closed recently at 0.708. A rising Liveliness suggests that long-term holders are viewing the current price rebound as an opportunity to sell their holdings and take profits, increasing the likelihood of a near-term correction. 2. Technical Weakness and Critical Levels The technical picture confirms that bears remain in control, despite the slight price increase: 20-Day EMA Resistance: DOGE is currently trading well below its 20-day Exponential Moving Average (EMA), which acts as dynamic resistance at $0.249. Trading below this short-term moving average signals that bearish sentiment is dominant and downward momentum is likely to continue. Critical Resistance: The key level DOGE must break to invalidate the bearish setup is $0.224. Success here could pave the way for a rally toward $0.264. 3. Price Targets and Correction Outlook With technical and on-chain indicators pointing down, a retest of major lows is on the cards: First Support Target: Without renewed buying interest, DOGE risks sliding toward the immediate support level at $0.167. 13-Month Low Retest: Failure to defend the $0.167 price floor could open the door for a deeper, more severe correction, potentially leading to a retest of its painful 13-month low of $0.095, recorded during the recent market crash. Conclusion Dogecoin's current 5% recovery appears fragile and unsustainable. The combination of declining network participation and profit-taking by long-term holders creates a powerful bearish confluence. As long as DOGE trades below the $0.249 (20-day EMA) resistance, the path of least resistance remains to the downside. Traders should watch the $0.167 support level closely, as losing it could accelerate a move back toward the devastating $0.095 low. Disclaimer This content is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency trading, especially with volatile meme coins, involves high risks, and you should always conduct your own research (DYOR) and consult with a professional financial advisor before making any investment decisions.