Dogecoin's struggle continues, but will a 2021-style bull run come?
Currently, the price of Dogecoin is down 1.6%, trading at $0.1071. Although it has seen a small increase of 2.7% in the past week, the overall performance is sluggish and it is still struggling. Crypto analysts pointed out that Dogecoin has a "Williams Alligator" technical pattern, which is similar to the consolidation stage before the 2021 bull run, sparking speculation about the future bull run. However, fundamental analysis shows that Dogecoin's relative strength index is 38, which is neutral, and whale transactions have dropped sharply from 1.56k to 1.1k, indicating a decline in interest or confidence among large investors. Whether Dogecoin can usher in a 2021-style bull run in the future is still full of uncertainty, and we need to continue to pay attention to market dynamics.
