I've been watching Dogecoin for a while and the technical situation doesn't look good. The price is currently at $0.10, but it seems to be rejecting this level every time it tries to break through. It has happened twice recently and it can't maintain the momentum. What's interesting is that while the price is falling, open interest continues to rise, suggesting there are more short positions open. This typically precedes further declines.

What caught my attention is that the sentiment on social media was quite positive a few days ago, but in the end, short-term traders took profits and left. The social volume peaked recently but wasn't enough to sustain the bullish move. Now Dogecoin is being pressured toward the $0.088 support, where strong action is expected.

Analyzing the indicators, the RSI fails to break 50, the OBV continues to decline, and Fibonacci levels at $0.117, $0.109, and $0.103 act as resistances. Everything points to sellers controlling the game at this moment. If Bitcoin continues to fall toward $63k-$65k, Dogecoin will likely drop further and liquidate those leveraged long positions between $0.084 and $0.088. The long-term structure is bearish, so be alert for a potential break of that support soon.