Recently, small-cap memecoins have performed well, but mainstream coins like Dogecoin are facing downward pressure. The overall market value of the memecoin market has fallen below $50 billion, and Dogecoin's growth has also slowed down.
Dogecoin tried to rise sharply, but failed, causing the memecoin market to enter a "hibernation" state. So, after this adjustment, can memecoin resume its upward trend?
The overall market is still unstable, and Dogecoin's rebound has not been sustained. Now, Dogecoin is retesting the trend line that it broke through before, and the price is hovering near the 50-day exponential moving average (EMA).
