Dogecoin (DOGE) price is consolidating in a tight trading range around $0.20, a psychological level. 📊 The last time DOGE was priced above this level was November 2021.

Despite its price increasing by 20% on a monthly basis, DOGE's market cap fell to $29 billion and 24-hour trading volume dropped by 9% to $2.2 billion. 📉

Despite this, analysts believe that DOGE's next bull run will begin soon. Famous crypto trader Rekt Capital suggests that the main memecoin is going through a retest phase at $0.20 on the monthly timeframe.

Analysts predict that prices will rise above $1 as DOGE mirrors previous cycles. Some analysts believe that DOGE may be on the verge of a new rally to new highs and are setting price targets at $2, $9 or even $40.