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DOGE's recent rally has been quite strong, but the price showing fatigue after breaking above the key level of 0.15. On the 1-hour chart, the price is clearly suppressed around 0.154, and then it turns into a sideways consolidation, which is quite intriguing.
The trading volume hasn't kept up, and the bullish momentum is clearly waning, with short-term sentiment heavily overextended. From the chart pattern, this looks more like a high-level consolidation after a rally, with a faint hint of distribution. Once it reverses, the decline can be quite sharp.
Currently, chasing long positions isn't very favorable. On the contrary, shorting offers a much higher risk-reward ratio.