Dogecoin (DOGE) continued its downward trend on Friday, trading around $0.071 and hovering close to its yearly low as weak market sentiment and deteriorating derivatives data weighed on the leading meme coin. With traders increasingly positioning for further losses and institutional demand remaining subdued, DOGE’s technical outlook suggests the correction could continue if key support levels fail to hold. Bearish derivatives data weighs on DOGE Market positioning has become increasingly negative, according to data from CoinGlass. DOGE’s long-to-short ratio fell to 0.82 on Friday, approaching its lowest level in more than a month. A ratio below 1.0 indicates that short positions outnumber long positions, reflecting growing expectations that the price will continue to decline.
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