Dogecoin is still in a clear downtrend.

I’m holding a large short position—around $500,000—and I see some new retail investors making fun of that, claiming the coin has already reached its bottom. Honestly, that kind of thinking shows inexperience. They’re only looking at the current price and assuming it can’t go lower, without considering how different the broader market conditions are compared to three or four years ago.

The overall environment has changed, and most of the bullish catalysts that once supported this coin have already played out. With a market cap sitting around $100 billion, if a correction doesn’t happen here, then where would it? In my view, the party’s over.$DOGE