Dogecoin Stuck in Bearish Trend Amid Weak Buying Momentum

Dogecoin's price dipped 1.2% in the last day, despite some analysts suggesting that it was due for a bounce. Trading volume decreased by 10.3%, and Open Interest dropped 1.3%, indicating weak buying momentum.

The crypto has been struggling to break through key resistance at $0.081, where 35 billion tokens were previously bought. This barrier has prevented the price from rebounding, and selling pressure remains strong.

Analysts are now looking for a reversal in Bitcoin's price or a shift in market sentiment to help Dogecoin recover. However, currently, sellers dominate the market, and support levels at $0.088, $0.078, and $0.057 are under watch for potential further declines.