Tesla Shares Surge 7% After AI Breakthrough; Dogecoin Stays Muted

Dogecoin Price Analysis

Dogecoin's (DOGE) price remained below $0.15 on Nov. 24, contrary to its historical pattern of rising during Elon Musk's bullish announcements.
Despite Tesla's announcement of a breakthrough in AI chip production, DOGE traded within a narrow $0.14 to $0.15 range.
Data from Coinglass shows DOGE's open interest decreased by 1.5% to $1.43 billion, with traders closing approximately $20 million in futures positions, indicating a sell-the-news reaction.
The long-short ratio for DOGE dropped to 0.98, highlighting bearish sentiment among traders following Musk's update.

Technical Indicators

Dogecoin remains below the 5-day and 8-day SMAs, with the 13-day SMA acting as resistance around $0.15.
The MACD line is below the signal line, suggesting ongoing downward momentum.
RSI at 41.22 indicates Dogecoin is slightly above oversold levels, showing some buyer interest but no confirmed reversal.
If bearish sentiment persists, DOGE may test support near $0.145, with a potential drop to $0.138 if it breaks below.
For a bullish reversal, DOGE needs to close above $0.154 and surpass all three SMAs overhead.