Meme Coin Stagnation: Dogecoin Trades Flat at $0.09 as Sellers Gain Upper Hand

Dogecoin has been trading at $0.09 for several days, and momentum has flatlined.

According to Terrill Dicki, buyers have been testing the psychological barrier of $0.10, but sellers have consistently pushed them back down.

The crowd positioning is skewed towards longs, with 71% of retail traders holding a buy position, but this may be setting up for a cascade of selling pressure.

The technical picture is uninspiring, with the MACD histogram at effectively zero and the 12 and 26-period EMAs kissing each other at $0.09.

A clean break above $0.10 within 7 days would flip the technical picture bullish, but a sustained breakdown below $0.088 on volume would confirm the next leg lower.