Dogecoin Stalls Near Yearly Low Amid US-Iran Tensions, But Buy Signals Flash

Dogecoin (DOGE) is trading at $0.072, near its yearly low of $0.069, due to global tensions and reduced appetite for speculative assets.

The ongoing US-Iran conflict has pushed oil prices higher and reignited inflation concerns, leading to a more hawkish Fed outlook that weighs on risk assets like DOGE.

Rising open interest alongside falling prices suggests new short positions entering the market, with a long-to-short ratio of 0.88 indicating more traders are betting on a price drop.

However, weekly TD Sequential buy signals have appeared, a pattern that has historically preceded strong rallies in DOGE, despite the current bearish sentiment.