I recently reviewed a set of market data for DOGE, and there are some warning signs. The long-short ratio is abnormally high, yet the price is declining with decreasing volume—this combination is often not a good signal.

First, let's look at the technical aspect. The 1-hour chart for DOGE has already shown clear bearish signals. It is being strongly resisted by two pressure lines above, with 0.13287 acting as the intraday resistance, and 0.13740 being the true strong resistance level. Each rebound fails to push higher. The MACD has formed a death cross below the zero line, and the crossover of the yellow and white lines clearly indicates that bearish momentum is strengthening. More importantly, the trading volume is shrinking, which suggests that the main force is slowly offloading, while retail investors are passively absorbing the sell-off. In this situation, what appears to be a rebound is actually just an opportunity for shorting or stop-loss, not a reversal signal.

Next, let's examine the data. On major trading platforms, the long ratio has already exceeded 70%. Does this sound like retail investors are very optimistic? The problem lies exactly here. Whenever retail investors' bullish sentiment reaches its peak, the market often responds with a counter-move. History repeatedly plays out this script: the main force takes advantage of retail investors' unanimous optimism to gradually offload their holdings onto unsuspecting buyers.

Looking ahead, DOGE is very likely to continue its downward trend. If a rebound occurs, the range between 0.13287 and 0.1374 is a good shorting opportunity. The target is down to 0.119. Don't be fooled by the rebound; the nature of this market indicates that the rebound is just a phase, and the downward trend remains the main direction.