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A death cross, a significant bearish signal potentially threatening Dogecoin's price momentum, has formed. This technical pattern, occurring when the 50-day moving average crosses below the 200-day moving average, often precedes prolonged downward pressure. Given Dogecoin's current struggles and market conditions, this development raises concerns about further losses.
DOGE has been steadily declining, breaking below several key support levels after failing to sustain any substantial bullish momentum. Following a recent rejection at $0.20, the asset moved towards the crucial $0.14 support. The death cross makes a near-term recovery seem unlikely.
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