Dogecoin ($DOGE ) has recently seen a positive bounce, climbing back to $0.110121 after holding the critical support level at $0.105. This recovery suggests a potential upward movement if broader market conditions, especially Bitcoin's price action, continue to improve. Should Bitcoin target the $67,000 mark once again, Dogecoin could rally toward $0.13.

However, the strength of this momentum will be tested, as maintaining support at $0.152 will be crucial for further gains. Surpassing resistance at $0.18 could open the door for a push toward $0.23, marking a significant bullish scenario.

That said, Dogecoin’s long-term outlook depends not only on Bitcoin’s movement but also on the market’s risk appetite, which has been affected by macroeconomic uncertainties and the upcoming U.S. elections. Despite ongoing promises of ecosystem expansion and new functionalities, the enthusiasm for speculative assets like Dogecoin has waned.

For Dogecoin to recapture its former highs, a broader return of risk-on sentiment is necessary, and current market conditions seem hesitant. Traders should watch key resistance and support levels closely, as breaking these could define Dogecoin’s direction in the coming weeks.
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