According to U.Today, the price of Dogecoin (DOGE) has been consolidating along with the broader market. Despite this, there are signals suggesting a potential rebound. Data from IntoTheBlock indicates that 75% of DOGE holders are currently in profit, which is notable given the lack of major price movements. This is a bullish signal, suggesting that the overall situation is not too bleak for the meme coin.

Dogecoin, the largest meme coin by market capitalization, enjoys strong community support. The increasing profitability among holders is likely to boost confidence and may attract more traders, potentially leading to significant profits. This metric underscores that DOGE is in a broader bullish trend despite the ongoing consolidation period. The coin has not entered a bearish phase and remains above key support levels, with the current stagnation attributed to broader market volatility.

As of this writing, Dogecoin is trading at $0.1211, having dipped 3.94% in the last 24 hours. It faces strong resistance at the $0.127 level, a price zone it has struggled to break through recently. However, the overall outlook remains not too bearish. Dogecoin's trading volume has surged by 10.77% in the last 24 hours, reaching $675.66 million. This rising volume reflects growing trader participation, which often indicates market confidence. Given this strong support from traders, it is likely that Dogecoin's price may rebound.