Over the past two weeks, the price of Dogecoin has performed relatively positively. The positive changes in the macroeconomic situation in the United States and the lead of crypto-friendly candidate Donald Trump in the 2024 US presidential election have boosted investor confidence in the cryptocurrency industry.

The memecoin sector has not been immune to this wave of demand surge. Super-cap assets such as DOGE and SHIB have seen a sharp rise since the release of positive CPI data on July 5

During the period from July 5 to 17, the price of Dogecoin rose by 40%. However, as shown in the above figure, the Dogecoin price rebound phase stopped at the $0.13 level on July 17, and has since entered a sharp correction phase

On July 19, the price of DOGE has fallen back to the $0.12 area. This reflects an 8% decline from the weekly high of $0.13 recorded on Wednesday

DOGE price has retraced significantly in the past 48 hours, but other memecoins such as PEPE and SHIB have shown more resilience, holding on to gains from earlier in the week

DOGE is currently trading at $0.11969, up slightly by 0.11% over the past day. Technical indicators show that Dogecoin is experiencing some volatility, with high volatility in recent sessions

The relative strength index (RSI) is 50.07, indicating a neutral position, neither overbought nor oversold. This means that Dogecoin may experience sideways trading in the short term. The recent RSI movement indicates potential upside momentum as it has recovered from oversold levels earlier this month

The Parabolic SAR dots are below the current price levels, indicating a bullish trend. If Dogecoin maintains this upward trajectory, the first significant resistance level to watch is $0.1212. A breakout above this resistance could pave the way for further gains to $0.13 and above

Traders should be cautious with the $0.0965 support level. If Dogecoin fails to hold this support, it could fall to lower levels again, threatening the $0.10 mark

Dogecoin shows potential for further gains, but the $0.10 support level remains crucial. Maintaining the bullish momentum above the key resistance level could lead to further gains, but a breakout of the $0.0965 support level could pose a risk to Dogecoin’s short-term price stability#meme币 #PEPEUSDT #DOGEUSDT $PEPE $DOGE