Dogecoin Price Hit by Crowded Long Position

The price of Dogecoin (DOGE) has been pinned at $0.07 due to a lack of conviction from buyers and a high level of long-side crowding in the market.

This is evident from the compressed short-term moving averages, which have converged into a single flat line, indicating paralysis rather than balance in the market.

The Relative Strength Index (RSI) is sitting at 45, confirming that momentum has bled out without fully rolling over. This is not a bottoming signal but rather a continuation of the downtrend.

The Bollinger Bands have squeezed to a comically tight range, with no coiled energy building to the upside.