🐶 Dogecoin (DOGE) faced resistance at $0.165, marking the high of its April trading range. Since May 6th, DOGE has dropped by 12%.

💼 Despite recent retracement, a large portion of DOGE holders remain profitable, dampening selling pressure.

📉 Social sentiment has been negative since DOGE fell below $0.2, indicating cautious investor confidence.

📊 On-chain metrics show a decline in daily active addresses, suggesting reduced transactional demand.

💸 Transaction volume dropped significantly in April but has shown some recovery recently, though not indicative of strong bullish sentiment.

🔄 Liquidity analysis suggests potential for DOGE to target $0.155-$0.16 after clearing liquidity clusters at $0.147 and $0.144.

📈 Short-term traders may anticipate bullish reversals after breaching key liquidity levels.