DOGE is currently trading at $0.4109, reflecting a loss of over 3% in the past 24 hours. Over the same period, liquidations totaling $32.76 million have been observed for the meme coin. Bitcoin (BTC), the largest cryptocurrency, has also slipped, reaching $95K as December approaches. The market remains dominated by greed, with the Fear and Greed Index holding at 79. DOGE’s market capitalization stands at $126 billion, making it the leading meme coin, despite its recent dip.
At the time of writing, DOGE’s market cap is approximately $60.40 billion. Earlier in the day, the coin was trading around $0.43 and reached a high of $0.4602. Daily trading volume for DOGE has risen to $12.14 billion during this period.
In November, DOGE demonstrated a significant surge, climbing over 156%. Starting the month at $0.1593, the coin peaked at $0.4735 on November 23. Analysts suggest that after surpassing $0.40, DOGE could exhibit bullish signals. While its December performance remains mixed, a bullish outlook toward year-end remains possible. 
Bearish Indicators and Potential Price Movement
Technical indicators currently suggest bearish momentum for DOGE. The MACD line is below the signal line, signaling a potential downtrend. Additionally, the Chaikin Money Flow (CMF) indicator at -0.11 indicates negative money flow, suggesting sellers are dominating the market. Despite this, DOGE’s daily trading volume has surged by over 121%.
The four-hour price chart reveals downside momentum. If the bearish trend continues, DOGE’s price could fall toward its previous lows. A failure to hold the $0.36 support level might lead to a further drop to $0.30. Conversely, a break above the $0.44 resistance could energize bullish momentum, pushing the price toward $0.50, which is critical for entering bullish territory.
Market Sentiment and Key Metrics
DOGE’s market sentiment is nearing a neutral zone, with the daily RSI at 43.24. Meanwhile, the short-term 9-day moving average is above the long-term 21-day moving average, providing a slightly positive outlook in the short term.
