DOGE Price Analysis: Dogecoin price has recently fallen, reaching its lowest point since February this year. However, it seems to have found support and may be about to rebound.

The price of Dogecoin fell to $0.113, which is the lowest point since February 2024.

The total market value of the cryptocurrency market has decreased by 3% in the past 24 hours.

Dogecoin Price Analysis: From late Monday night to Tuesday, the price of Dogecoin fell by 11%. The price fell to $0.113, which is the lowest level since February.

Dogecoin may need to make key decisions in the near future, which will affect its future price trend.

Previously, DOGE price showed a huge descending triangle trend. Although the bottom of the triangle provides strong support for DOGE, this support may become invalid due to the overall market bearish sentiment caused by Bitcoin.

This support level has been tested three times, and investors expect it to hold its ground this time. Although the descending triangle is not usually a bullish signal, if it breaks upward, it often brings a strong price rebound.

Currently, DOGE's price trend is below the 50-day and 200-day simple moving averages (SMA), which is a negative sign for the asset price.

Bitcoin's market influence is significant, with its market capitalization increasing from 51.5% to 52.1% last week, showing its dominance in the market.

Dogecoin investors closely follow the trend of Bitcoin prices because it directly affects their profits and losses.